Ashley Madison will pay $11.2 million to data breach victims:
Ashley Madison is still picking up the pieces two years after the massive data breach that exposed millions of users' information. The parent company of the cheat-on-your-spouse website continues to deny any wrongdoing, but it has agreed to settle the preliminary class-action lawsuit filed on behalf of 37 million users whose personal details were dumped onto the dark web. Ruby Corp is ready to pay $11.2 million for the settlement, though the amount still has to be approved by a federal judge in St. Louis.
According to Reuters, the data breach cost Ruby Corp over a quarter of its revenue. It had to spend a lot of money to boost security and privacy in an effort to win over new users, and now to settle lawsuits the breach caused. In addition to the $11.2 million it has to pay people who were affected by the breach, the company also settled charges from the FTC and 13 states for $1.6 million last year.
Those who were affected by the security breach can claim up to $3,500, depending on how well they've documented their losses due to the event. Since it's a website that encourages cheating on one's spouse, though, $3,500 might only cover a small fraction of what some people lost.