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.”