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Case Details for "D.A. Davidson "
D.A. Davidson settles class action over release of confidential data
The Great Falls-based financial services company D.A. Davidson has settled a federal class-action lawsuit that was filed after a computer hacker broke into a database containing confidential client information.
District Judge Richard Cebull has given preliminary approval to a proposed settlement that could affect an estimated 226,000 current and former customers. About 40 percent of the customers live in Montana. A hearing for final approval is set for November 12, 2009.
Under the deal, D.A. Davidson will continue to make available a credit monitoring program for its customers.
It also will provide up to $750,000 to reimburse class members who can prove losses, with a limit of $10,000 per member. For those enrolled in the credit monitoring program, the agreement makes up to $250,000 available for reimbursement of expenses not covered by the program.
The hacker didn't gain access to operating systems or account information during the December 2007 breach, and the company says no trading accounts were affected.
Posted on:2009-08-04
Company: D.A. Davidson
Class: n/a
Scope: Nationwide
Type of Case: Consumer
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