Infosys McCamish Settles Class Action Lawsuits Over Cybersecurity Breach
A US court has approved a settlement for class action lawsuits against Infosys McCamish over a cybersecurity breach. The company will pay USD 17.5 million to resolve the lawsuits related to a 2023 data breach affecting thousands of Bank of America customers without admitting liability.
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A US court has granted the final nod for a settlement involving class action lawsuits against Infosys McCamish, Infosys revealed in a BSE filing on Saturday.
The terms involve Infosys McCamish Systems allocating USD 17.5 million into a fund to conclude all pending class action lawsuits linked to a 2023 cybersecurity breach, with the subsidiary at the focal point.
Should no appeals arise within 30 days, the settlement will take effect, resolving the lawsuits without any liability admission from Infosys, the company stated. The breach, identified by Bank of America in February 2024, affected 57,028 customers.
(With inputs from agencies.)
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