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What is your private info worth? $7.86, according to LifeLabs court settlement

Compensation for 2019 data breach ended up being a lot smaller than expected
2021-08-05 LifeLabs JO-001
LifeLabs is the largest provider of specialty laboratory testing services in Canada.

Money is being sent out to Canadians affected by a LifeLabs privacy breach, but it’s not exactly a windfall. In fact, it won’t buy much more than a coffee or two.

In late 2019, the medical diagnostics company announced it was the target of a cyberattack that compromised patient data.

That led to a class-action lawsuit and an eventual settlement that will now see LifeLabs pay out a total amount of $9.8 million to all class members who made valid claims. 

It was expected those completing a valid claim form would received between $50 and $150 in compensation, minus court-approved legal fees, disbursements and taxes. The window to make a claim closed last month.

KPMG now says given the large number of valid claims received — 901,544 — the actual amount given to class members will be...$7.86 each.

And that's if they choose to accept the money via e-transfer. Those who want a cheque will have to pay a $2 processing fee, bringing their total down to $5.86.

KPMG says the payment has been calculated in accordance with the court-approved terms of distribution, which is “$9.8 million, plus accrued interest, less Court-Approved Class Counsel Fees and Disbursements, (including GST/HST), divided by 901,544 valid claims.”

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