In re Sovos Compliance Data Security Incident Litigation

• A proposed Settlement in the amount of $3,534,128.50 has been reached in a class action lawsuit known as In re Sovos Compliance Data Security Incident Litigation, Case No. 1:23-cv-12100 (“Action”), filed in the United States District Court for the District of Massachusetts.
• The Action alleges that on or about May 30, 2023, the MOVEit Transfer application used by Defendant Sovos Compliance, LLC was impacted by a zero-day vulnerability that resulted in the unauthorized access to or acquisition of the Private Information of approximately 490,000 individuals (“Data Incident”). Sovos utilizes the MOVEit Transfer application to help various customers deliver unclaimed property services. Sovos maintains that it has defenses to the Action, and that it was prepared to vigorously defend the lawsuit.
• All Settlement Class Members may elect to receive a Cash Payment and Credit Monitoring, and, if applicable, the California Statutory Award, as set forth below:

Cash Payment A or Cash Payment B: Any Settlement Class Member who submits a Valid Claim may elect to receive Cash Payment A in the form of compensation for unreimbursed ordinary losses, fairly traceable to the Data Incident, up to a total of $2,000 per person, with supporting documentation; compensation for lost time of $25 per hour, up to five hours (for a total of $125) with an attestation including a brief description of the action(s) taken in response to the Data Incident; and compensation for extraordinary losses, up to a total of $10,000, for actual documented and unreimbursed monetary loss fairly traceable to the Data Incident (“Cash Payment A”); OR Cash Payment B in the form of a flat payment in the amount of $150 (“Cash Payment B”). 

California Statutory Claim Payment: In addition to Cash Payment A or Cash Payment B, all California Settlement Subclass members may also elect to receive the California Statutory Award in the amount of $100.

Credit Monitoring: In addition to Cash Payment A or Cash Payment B and the California Statutory Award, if applicable, all Settlement Class Members may also make a Claim for Credit Monitoring.

All Settlement Class Member Benefits may be subject to a pro rata increase or decrease depending upon how many Settlement Class Members make Valid Claims and the value of all Settlement Class Member Benefits claimed.

Cash Payments will be made via check or electronic transfer out of the Net Settlement Fund following the payment of Settlement Administration Costs, Service Awards to Class Representatives of up to $2,500 per Plaintiff, attorneys’ fees to Class Counsel of up to 33.33% of the Settlement Fund, and reimbursement of reasonable costs to Class Counsel.

• Settlement Class Members are:
• All living individuals residing in the United States who were sent a notice by Sovos or by a Sovos Customer indicating that their Private Information may have been impacted in the Data Incident.
  
• California Settlement Subclass members are:
• All Settlement Class Members residing in California as of May 30, 2023.
• Excluded from the Settlement Class are: (a) all persons who are employees, directors, officers, and agents of Sovos or a Sovos Customer, or their respective subsidiaries and affiliated companies; (b) governmental entities; and (c) the Judge assigned to the Action, that Judge’s immediate family, and Court staff.

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