PR NEWSWIRE – July 14 – Ruby Corp and a proposed class of plaintiffs have reached a proposed settlement agreement resolving the class action lawsuits that were filed in July 2015 following a data breach of Ashley Madison. If the proposed settlement agreement is approved by the Court, ruby will contribute a total of $11.2M to a settlement fund, which will provide payments to settlement class members who submit valid claims for alleged losses resulting from the data breach. While ruby denies any wrongdoing, the parties have agreed to the proposed settlement in order to avoid the uncertainty, expense, and inconvenience associated with continued litigation.
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Summarized by the Courtland Brooks team