Equifax says it has reached class action settlement in 2017 personal information breach

ATLANTA — Mega credit monitoring service Equifax says it has reached a class action settlement after a 2017 breach, “which impacted the personal information of approximately 147 million people.”

According to the company, the settlement ends the lawsuit brought against it by consumers impacted by the data breach from September 2017.

“Equifax denied any wrongdoing and no judgment or finding of wrongdoing was made,” it said on its website.

The deadline for free credit monitoring or to receive up to $125 cash payment and other cash reimbursement from the breach passed on Jan. 22, 2020.

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Equifax says the settlement is now effective.

“If you requested a cash benefit during the Initial Claims Period, the amount you receive may be significantly reduced depending on how many valid claims are submitted by other class members. Based on the number of potentially valid claims that have been submitted to date, payments for time spent and alternative compensation of up to $125 likely will be substantially lowered and will be distributed on a proportional basis if the Settlement becomes effective. Depending on the number of valid claims filed, the amount you receive may be a small percentage of your initial claim,” the company said.

To read more about the settlement or file an extended claim, CLICK HERE.

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