Your settlement payment is the result of a settlement in the lawsuits— McPherson v. American Bank Systems, Inc., and Lyles v. American Bank Systems, Inc.
The lawsuits asserted claims on behalf of a class of individuals related to the Data Security Incident and ABS’s data security practices. These claims include alleged negligence, negligence per se, violations of Oklahoma’s unfair and deceptive trade practices statute, unjust enrichment and seek injunctive and declaratory relief. ABS denies these allegations, any wrongdoing, and that it is liable in any amount to the affected individuals.
The parties agreed to a settlement to resolve the Lawsuit. The Court did not decide whether ABS violated the law.