Infosys Pays $17.5M to Settle Massive Data Breach Lawsuits: The Cost of Oops!
Infosys Limited has decided to settle the class action lawsuits against its subsidiary McCamish for a cool $17.5 million. The lawsuits were filed in the US over a data breach affecting 6.5 million individuals. As they say, nothing like a hefty payout to turn “Oops” into “All settled”!
Hot Take:
Infosys McCamish just paid $17.5 million to settle a data breach lawsuit. That’s a lot of zeros for a zero-tolerance policy on personal data mishaps! Looks like McCamish’s insurance specialty didn’t cover their own cybersecurity blunders. Maybe they should take out a policy on their IT systems next time!
Key Points:
- Infosys McCamish faced six class action lawsuits in the US due to a data breach in 2023.
- The breach impacted approximately 6.5 million individuals, with personal data compromised.
- Bank of America and Fidelity Investments were among the companies affected by the breach.
- The lawsuits have been consolidated, and an agreement was reached for a $17.5 million settlement.
- The settlement is pending confirmation and approval by the courts, with no admission of liability.
Already a member? Log in here