Crosner Legal is proud to announce the successful settlement of a class action lawsuit against JM Bullion, Inc., an online precious metals dealer, over a significant data breach that compromised the personal information of thousands of customers. The settlement, valued at approximately $14.8 million, includes both monetary compensation and robust identity theft protection measures for affected individuals.
Case Background
On October 28, 2020, JM Bullion disclosed a data breach that affected the personal information of its customers, including those of its subsidiary, Provident Metals Corp. Unauthorized persons had infiltrated JM Bullion’s website via malicious code from February 18, 2020, to July 17, 2020, and Provident Metals’ website from January 1, 2020, to July 17, 2020. This malicious code allowed the intruders to capture sensitive customer information, such as names, addresses, and payment card details (including account numbers, expiration dates, and security codes) during purchase transactions. Plaintiff William Newman, on behalf of all similarly affected individuals, filed a class action complaint on February 26, 2021, asserting violations of the California Consumer Privacy Act (CCPA), the Unfair Competition Law (UCL), and breach of contract.
Settlement Terms
The settlement agreement includes several key terms. JM Bullion will pay $250,000 into a settlement fund designated for covering out-of-pocket expenses incurred by class members as a result of the data breach. California residents can claim up to $100, while non-California residents can claim up to $60 for out-of-pocket expenses. Additionally, all class members will automatically receive two years of Experian IdentityWorksSM, which includes identity theft monitoring alerts, dark web surveillance, single bureau credit monitoring, fraud resolution, and up to $1 million in identity theft insurance coverage.
The plaintiff, William Newman, will receive a service award of $2,500 in recognition of his efforts in representing the class. JM Bullion will also pay up to $260,000 for the reasonable attorneys’ fees and litigation costs incurred by class counsel. These payments will be made separately from the settlement fund and will not reduce the benefits available to class members. Furthermore, JM Bullion has agreed to implement enhanced data security measures to prevent future breaches. These measures include appointing a Chief Information Security Officer, conducting regular risk assessments, designing and implementing safeguards, and enhancing employee education and training on data privacy.
Next Steps for Affected Consumers
Class members will receive detailed information about how to submit a claim for out-of-pocket expenses and activate their identity theft protection services. We encourage all affected individuals to take full advantage of the benefits provided under this settlement to safeguard their personal information.
For any questions or further information regarding this settlement, please contact Crosner Legal
- By phone at (866) 276-7637 [CROSNER]
- By email at intake@crosnerlegal.com, or
- By fax at (310) 510-6429
We remain dedicated to protecting the rights of consumers and ensuring that companies uphold their responsibility to secure personal data. Thank you for your trust and support.
This blog post is intended for informational purposes only and does not constitute legal advice. Please contact us directly for any legal inquiries or concerns.