Sarah Mirando  |  November 10, 2010

Category: Legal News

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Davidson & Co. Data Breach Settlement
By Kimberly Mirando
 

D.A. Davidson & Co. Looks like the Heartland Data Beach Settlement isn’t the only class action settlement that’s giving consumers who had their personal information exposed to hackers a break. Another class action settlement has been reached in a class action lawsuit against D.A. Davidson & Co., which had its database illegally hacked into three years ago. If you were a client of D.A. Davidson & Co. and had your personal information stored in their database during this data breach, you may be entitled to receive compensation from the class action lawsuit settlement.

 

According to the Davidson data breach class action lawsuit, some of Davidson’s current and former clients had their confidential personal information compromised by a computer hacker who illegally obtained access to their stolen information via a sophisticated network intrusion on or about December 20, 2007. This stolen information is believed to have consisted of names, addresses, emails, Davidson account numbers, social security or tax identification numbers, dates of birth, account balances, and a Davidson financial consultant’s ID number.

 

Davidson learned of the breach on or about January 16, 2008 and immediately informed law enforcement, but was asked by law enforcement not to notify current and former clients of the data breach until nearly two weeks later on January 29, 2008. Plaintiffs filed the class action lawsuit against Davidson on May 2, 2009, alleging violation of the Federal Fair Credit Reporting Act, breach of contract, violation of the Montana Consumer Protection Act and negligence.

 

If you received a letter from Davidson dated January 29, 2008 notifying you of the data breach, you are considered a class member of the Davidson data breach lawsuit. Davidson has agreed to establish a $1 million settlement fund to reimburse class members for any actual and unreimbursed out-of-pocket damages they may have incurred as a direct result of the Davidson data breach during the time period from December 20, 2007 through and including June 1, 2011. All claim forms to request reimbursement damages must be received by the Settlement Administrator no later than June 1, 2011. An explanation of the damages reimbursement claim process can be found in the DAD Settlement Notice.

 

For more information on the D.A. Davidson & Co. Data Breach Class Action Lawsuit Settlement, including downloadable claim forms, visit www.dadsettlement.com. 

 

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Updated November 10th, 2010

 

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