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Class Actions Abound After Breaches

PRIVACY LAW—U.S.

November 18, 2010

A financial firm has reached a settlement in a class-action lawsuit spurred by a 2007 data breach, Top Class Actions newsletter reports. D.A. Davidson & Co. has established a $1 million fund "to reimburse class members for any actual and unreimbursed out-of-pocket damages they may have incurred as a direct result of the Davidson data breach during the time period from December 20, 2007, through and including June 1, 2011," the report states. In a separate incident, a class action has been filed against Florida insurer AvMed over the theft of two unencrypted laptops that has placed personal data on 1.22 million members at risk. 
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