Arthur J. Gallagher & Co. has agreed to a substantial $21 million settlement to resolve a class-action lawsuit tied to a data breach that took place in 2020.
This incident affected a considerable number of individuals and raised significant alarms regarding the company’s data security practices.
Notably, roughly one-third of the settlement amount will go towards covering legal fees for the attorneys representing the affected parties.
Details of the Settlement
The proposed settlement, which is currently awaiting approval, arises from serious allegations about how the company managed and safeguarded personal information.
By reaching this financial agreement, Gallagher aims to address the concerns of those impacted and underscores the critical nature of data security in today’s corporate landscape.
Lessons on Data Security
In essence, this settlement serves as a reminder about the importance of protecting personal data, reinforcing the idea that companies must prioritize robust security measures to safeguard sensitive information.
Source: Ambest
