Timios settles data breach litigation

Real estate solutions company Timios agreed to settle claims it failed to protect consumer data in a July 2021 data breach.

Top Class Actions reports that in October 2021, Timios began to inform customers their sensitive information may have been compromised when a third party gained access to the company’s network, encrypted certain Timios systems and gained access to personal data.

The total amount of the settlement doesn’t appear to be mentioned but:

Under the terms of the settlement, class members can collect up to $500 for expense reimbursement. This payment includes bank fees, telephone charges, internet charges, interest on loans, credit monitoring costs, three hours of lost time (at a rate of $20 per hour) and other losses.

Details of the settlement can be found on the settlement website:
TimiosSettlement.com. Valid claim forms must be submitted by Sept. 7, 2022. The final hearing will be October 27, 2022.

The case is:
Schellhorn, et al. v. Timios, Inc., Case No. 2:21-cv-08661-VAP-JC, in the U.S. District Court for the Central District of California

Read more at Top Class Actions.

What is not clear from the settlement site is whether class members were ever informed that  personal information may have been leaked back in October of 2021 on the dark web. Were they ever told that? The October 2021 notification talked about how data may have been accessed or acquired but how Timios couldn’t even determine for sure whether data had been viewed. There was nothing in that notification about the threat actor demanding a ransom or leaking data.

Might that change any consumer’s opinion about any settlement?

A post on the dark web in October 2021 indicated that data from Timios was being leaked because the firm did not pay ransom demands. 

 

The “ac” directory contained folders with names. The folder still appeared to be available in 2022..

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