A federal judge in North Carolina has granted preliminary approval for a $1.5 million settlement between Builders Mutual Insurance Co. and a proposed class of policyholders, employees, and stakeholders affected by a 2022 data breach. U.S. District Judge Richard E. Myers II deemed the settlement “fair, reasonable, and adequate” in his Tuesday order. The lawsuit, filed in January by Matthew Kocher, Mark Rogolino, and James Jackson, alleged that Builders delayed informing tens of thousands of affected parties about unauthorized data access that occurred between December 14-15, 2022.
Under the settlement terms, class members can receive up to three years of credit monitoring and claim up to $10,000 for economic losses, plus compensation for up to six hours of lost time at $25 per hour. Siri & Glimstad LLP attorneys Dana Smith, Mason A. Barney, and Tyler J. Bean are representing the plaintiffs alongside attorneys from Rhine Law Firm PC, Strauss Borrelli PLLC, and Srourian Law Firm PC. The case, handled in the U.S. District Court for the Eastern District of North Carolina, was settled following private mediation in June.