A recent announcement by MGM Resorts International reveals a significant class action settlement aimed at compensating individuals affected by data breaches. The company has agreed to a $45 million settlement following two incidents in 2019 and 2023, where unauthorized access to customer information occurred. This compensation package is designed to address the financial losses and potential identity theft risks faced by those impacted.

Eligible claimants may receive varying amounts of financial compensation depending on the type of personal information exposed. For instance, those whose Social Security or military identification numbers were compromised could receive up to $75, while others might get between $20 and $50 based on less sensitive data being accessed. Additionally, all affected individuals have the opportunity to secure one year of comprehensive identity protection services, including credit monitoring and substantial insurance coverage against fraud.

The settlement process offers multiple avenues for affected guests to seek redress. Individuals who believe they are entitled to compensation must submit their claims online or via mail by June 3. Those wishing to opt out or object to the settlement have until May 19 to do so. A final hearing is scheduled for June 18, which will determine the final details of the settlement.

This settlement underscores the importance of safeguarding personal information and highlights the commitment of organizations to protect their customers. It also serves as a reminder for individuals to remain vigilant about their personal data security and take proactive measures to prevent potential misuse. Such initiatives not only restore trust but also promote a culture of responsibility and transparency in the corporate world.