$4,000 Direct Deposit Alert: New Class Action Available to Eligible Americans

People in the US could be due $5,000 in a class action lawsuit against a company whose data breach exposed more than 8,900 people’s personal details. Farmers Investment Company (FICO), which trades as Green Valley Pecan Company, owned up to the nightmare and filed a data breach notification with Maine Attorney General. Maine Attorney General and people can seek reimbursement up to the Dec. 16, 2024, deadline.

Green Valley Pecan Company data breach leaves 8,900 Americans vulnerable

It found that an unauthorized party had access to the database and information had been hacked into the network. Names, dates of birth, driver’s license numbers, Social Security numbers, bank account and routing information, health insurance numbers, and medical information were all part of what was included.

The company was immediately mandated to inform data breach notifications to all individuals who got affected by the leak event, which is a way for people to determine how to safeguard versus fraud or identification theft. There are several ways that scammers and fraudsters use people’s information for exploitation:

• Account takeover: Your information can be used by criminals to take over your accounts and move your money.
• Phishing or social engineering: Scammers can also impersonate you and take advantage of people in your circle if you raise the issue by pretending to be you.
• Loans or credit: It can also get you credit in your name or put you into debt.
• Data selling: Your information could be sold on the dark web for many criminal uses.

How can you protect yourself?

There are several steps to take if you believe that your information has been compromised:

• Monitor your accounts: Do check your bank and card statements regularly and report anything as soon as you see any apparently invalid activity.
• Put a hold on new credit: You can put a freeze on any credit or accounts that may be opened in your name.
• Set up fraud alerts: If you’ve alerted lenders to your credit report that you’re a fraud alert, they’ll be extra careful in checking your identity.
• Update passwords and authentication methods: Use extra authentication protection and change your passwords.
• Check credit reports: There are numerous free credit reports that will show you if anyone has been inquiring or trying to open accounts.
• Notify institutions: Once you know it, tell all your banks or any institution that may be affected that your data is breached.
• Educate yourself: Know what types of scams there are, keep on top of things and use good security practices.

Green Valley Pecan Company and the legal filing

The filed legal document of Green Valley Pecan Company with Maine Attorney General fills in a few details about the network breach. On May 31, the company experienced a network disruption that prompted the company to respond with a data security response plan and secure its digital assets. Immediately after the breach, a third-party cybersecurity specialist firm was contacted to neutralize the effects of the breach and secure information from being disclosed. In addition, the same third-party firm was also asked to investigate the source of the breach and how the crime took place.

The claim, compensation, and benefits process

In the original class action lawsuit, filed, Green Valley Pecan Company was accused of not adequately protecting over 9,000 employees’ private information with inadequate data security. Anyone who received a data breach notice from the company has agreed to settle the lawsuit, and the company will.

Eligible claimants can fill out a compensation claim form on the company’s website, ficodatasettlement.com, before the deadline of December 16, 2024. The settlement stipulates the following benefits or reimbursements:

• Out-of-pocket expenses from $400 “ordinary losses” and $4,000 “extraordinary losses” are documented.
• Up to three hours of time spent dealing with the breach, and reimbursement of $15 per hour.
• Free credit monitoring services with $1 million insurance for identity theft for two years.

The court approval is final and we can then begin the settlement payments. The case is scheduled for a final hearing on January 10, 2025.