Proposed US Settlement Follows Massive 2015 Data Leak by ‘Impact Team’ Hackers
Ashley Madison wants to put that sordid data breach affair behind it.
On Friday, Ashley Madison parent company Ruby Life, née Avid Dating Life, announced that it’s reached an $11.2 million settlement agreement with plaintiffs in a consolidated lawsuit that was filed against the infidelity dating site following its massive July 2015 data breach.
The full terms of the settlement agreement have yet to be approved by the court. But the proposal calls for Ruby to contribute “a total of $11.2 million to a settlement fund,” designed, in part, to compensate “settlement class members who submit valid claims for alleged losses resulting from the data breach and alleged misrepresentations” tied to Ashley Madison, Ruby says in a statement.
“While Ruby denies any wrongdoing, the parties have agreed to the proposed settlement in order to avoid the uncertainty, expense and inconvenience associated with continued litigation, and believe that the proposed settlement agreement is in the best interest of Ruby and its customers,” Ruby’s statement adds.
A third of the settlement fund – $3.7 million – would go to attorneys’ fees, costs and expenses.
The remaining $7.5 million would be split between victims who used the Ashley Madison website on or before July 20, 2015, with a maximum reimbursement of $3,500 per individual. Court…