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$5M Settlement Over Unfair Overdraft Fees and $1.25M Data Breach Compensation: Two Major Class-Action Resolutions!

Union Bank Settles $5 Million Lawsuit Over Unfair Overdraft Fees

ReproSource Fertility Diagnostics Settles $1.25 Million for Data Breach

According to The U.S. Sun, Union Bank is settling a $5 million lawsuit over unfair overdraft fees on debit transactions approved with sufficient funds. The settlement covers affected account holders from October 19, 2013 to February 28, 2019. Eligible members will receive an average payment of $40.16 without filing a claim. Exclusions and objections deadline is June 25, 2024 with final approval hearing on July 25, 2024 aiming to address issues promptly.

ReproSource Fertility Diagnostics has agreed to a $1.25 million settlement for a data breach in August 2021 that compromised sensitive patient information including Social Security numbers and health insurance details. Individuals notified in October 2021 are eligible for compensation from the settlement fund. The lawsuit claimed ReproSource failed to implement adequate cybersecurity measures. Though ReproSource has not admitted wrongdoing it settled to resolve the legal claims. Affected individuals can receive up to $3,000 for their losses or opt for a flat-rate payment of around $50. This settlement offers financial relief to those affected by the breach.

READ ALSO: $434 Million Under Armour Settlement: Shareholders To Benefit From Misleading Revenue Claims Lawsuit – Are You Eligible?

$5M Settlement Over Unfair Overdraft Fees and $1.25M Data Breach Compensation: Two Major Class-Action Resolutions! (PHOTO: The US Sun)

Efficient Resolution Through Class-Action Settlements

These settlements reflect a growing trend where companies choose to resolve class-action lawsuits to avoid prolonged legal battles and additional costs. Class actions offer a way for large groups of people to seek justice for issues like unfair fees, data breaches and other forms of corporate misconduct. By settling these cases companies can address the claims of affected individuals efficiently while often denying any wrongdoing. This approach helps companies avoid further legal challenges and provides compensation to those who suffered losses. These resolutions show the balance between corporate responsibility and the need for companies to manage their legal risks effectively.

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