Settlement Status

  • A Settlement has been proposed to resolve litigation against Defendant American Bank Systems, Inc. (“ABS” or “Defendant”) brought by a putative class of individuals whose personal identifiable information (“PII”) was compromised as a result of a third-party criminal cyberattack on Defendant’s systems, which was announced in 2020 (the “Data Security Incident”).
  • The lawsuits—(i) McPherson American Bank Systems, Inc., No. 5:20-cv-01307-G (W.D. Okla.); (ii) Lyles v. American Bank Systems, Inc., No. 5:21-cv-00023-G (W.D. Okla.); and (iii) Lautman v. American Bank Systems, Inc., No. 2:20-cv- 01959-RJC (W.D. Pa.)—assert 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 unfair and deceptive trade practices statutes, 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.
  • Under the Settlement, ABS has agreed to pay $1.7 million dollars into a Common Fund which will be used to pay all Plaintiff/Settlement Class member distributions, and any Court-approved reasonable Plaintiffs’ attorneys’ fees and expenses, Settlement Administrator’s costs and expenses, and Plaintiffs’ Service Awards up to $1,500 to each Settlement Class Representative. Two types of claims may be made: “Documented Loss Claims” and “Inconvenience Claims.” A Settlement Class Member may make one or both types of claims. The different types of claims are explained later in the notice.
YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT
SUBMIT A CLAIM FORM If eligible, you will receive a cash payment. This is the only way to get compensation from the Settlement.
EXCLUDE YOURSELF If you ask to be excluded, you will not receive a cash payment, but you may be able to file your own lawsuit against ABS for the same claims. This is the only option that leaves you the right to file your own lawsuit against ABS and/or Defendants’ Released Persons (defined in the Settlement Agreement) for the claims that are being resolved by the Settlement. In order to be effective, a request to be excluded from the Settlement must include all information required by the Settlement.
OBJECT You can remain in the Settlement Class and file an objection telling the Court why you do not like the Settlement. If your objections are overruled, you will be bound by the Settlement.
DO NOTHING If you do nothing, you will not receive any cash payment. If you do nothing, you will also forfeit your right to sue or bring any claim against ABS and/or Defendants’ Released Persons related to the Data Security Incident.
  • These rights and options – and the deadlines to exercise them – are explained in the notice.
  • The Court in charge of this case still has to decide whether to approve the Payments will be made if the Court approves the Settlement and after any appeals are resolved. Please be patient.