Data breaches are becoming more common, putting sensitive personal and financial information at risk. In November 2021, Centerspace, a well-known residential property management company, experienced a cyberattack that compromised critical data, including Social Security numbers and bank account details. To resolve the issue, Centerspace has agreed to a settlement with payments ranging from $30 to $5,250 per individual.
This guide will help you determine if you qualify, explain the claim process, and provide key deadlines to ensure you receive the compensation you deserve.
Centerspace Data Breach Settlement Overview
Aspect | Details |
---|---|
Settlement Amount | $30 to $5,250 per claimant |
Eligibility | U.S. residents notified by Centerspace regarding the breach |
Claim Options | Cash payments, credit monitoring services, or reimbursement for financial losses |
Deadline to File | November 26, 2024 |
Final Approval Date | December 4, 2024 |
Official Website | CenterspaceSettlement.com |
This settlement offers financial relief and protective services to individuals affected by the breach. Whether you choose direct cash payments or credit monitoring services, it’s essential to file your claim before the deadline.
Understanding the Centerspace Data Breach
The data breach occurred when an unauthorized entity accessed Centerspace’s internal systems, compromising the personal information of thousands of individuals. The leaked data included:
- Social Security numbers
- Names
- Bank account details
- Other personally identifiable information (PII)
This breach increased the risk of identity theft and financial fraud, leading to a class-action lawsuit against Centerspace for failing to protect consumer data. The resulting settlement provides compensation and identity protection measures to affected individuals.
Why This Settlement Matters
Victims of data breaches often face long-term consequences, such as identity theft, unauthorized transactions, and damage to their credit scores. This settlement aims to help affected individuals recover by providing:
- Financial reimbursement for incurred losses
- Credit monitoring services to detect fraud
- Identity theft protection to prevent future incidents
Who Is Eligible for the Centerspace Settlement?
You are eligible to file a claim if:
- You were directly affected by the breach and received a notification from Centerspace via mail or email.
- You are a U.S. resident.
If you are unsure about your eligibility, visit CenterspaceSettlement.com for verification.
Compensation Options for Claimants
Centerspace offers several compensation options:
1. Cash Payments
- Flat Payment: Receive $30 without any documentation.
- Lost Time Reimbursement: Up to $75 for time spent addressing issues related to the breach (calculated at $18.75 per hour for a maximum of 4 hours).
- Ordinary Losses: Claim up to $525 for documented financial losses, including:
- Costs of identity theft protection services.
- Bank fees or card replacement costs.
- Other out-of-pocket expenses.
- Extraordinary Losses: If the breach caused significant financial harm, you may claim up to $5,250 with proper documentation.
2. Free Credit Monitoring & Identity Theft Protection
- Two years of credit monitoring to track your financial activity.
- Identity theft insurance coverage up to $1 million.
Step-by-Step Guide to Filing a Claim
Follow these simple steps to submit your claim:
Step 1: Gather Your Information
Locate the notification letter or email from Centerspace, which contains your Claim ID and PIN required for the claim process.