Judge approves Stratfor lawsuit settlement over breach

Powered by SC Magazine
 

Stratfor plans to settle with its subscribers.

Global intelligence firm Stratfor is expected to settle a class-action lawsuit that was brought following last year's massive data breach, according to reports.

The Texas-based Stratfor will offer members of the class a one month subscription fee, which normally costs $29.08, as well as an electronic book published by Stratfor, priced at $12.99, according to a Reuters report.

To join the class and qualify for the settlement, one must have to be a current or former Stratfor subscriber as of Dec. 24, 2011, the day the breach was disclosed by Anonymous.

Under the settlement, which received preliminary approval from the judge on June 14, Stratfor also must provide free credit monitoring for class members who ask for it, and the company must continue to invest in upgrading its security, the Reuters story said. In settling, it didn't admit any wrongdoing.

In total, the settlement is expected to cost Stratfor $1.75 million.

A week after the attacks were publicized on Christmas Eve Day, the Anonymous hackers dumped 75,000 names, addresses and passwords of every customer that has ever paid Stratfor for services. Additionally, the group posted the personal information on 860,000 people who registered with the company.

The intruders also claim to have gotten their hands on 90,000 credit card numbers, which were purportedly used to make about a million dollars in donations to charities. But it appears their main goal was to gain access to the company's emails, which they did -- 5.2 million of them.

Authorities have made arrests in the wake of the breach.

This article originally appeared at scmagazineus.com

Copyright © SC Magazine, US edition


Judge approves Stratfor lawsuit settlement over breach
 
 
 
Top Stories
ATO shaves $4m off IT contractor panel
Reform cuts admin burden, introduces KPIs.
 
Turnbull introduces data retention legislation
Still no definition of metadata to be stored.
 
Crime Commission prepares core systems overhaul
Will replace 30 year-old national criminal database.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
In which area is your IT shop hiring the most staff?




   |   View results
IT security and risk
  27%
 
Sourcing and strategy
  13%
 
IT infrastructure (servers, storage, networking)
  21%
 
End user computing (desktops, mobiles, apps)
  14%
 
Software development
  25%
TOTAL VOTES: 437

Vote
Would your InfoSec team be prepared to share threat data with the Australian Government?

   |   View results
Yes
  54%
 
No
  46%
TOTAL VOTES: 210

Vote