CINCINNATI—A federal court has granted final approval to Cinfed Credit Union’s $700,000 data breach class action settlement—but reduced the attorneys’ fees from what class counsel had requested, Bloomberg Law reported.
The U.S. District Court for the Southern District of Ohio awarded $175,000 in legal fees—one-fourth of the settlement fund—citing the relatively limited work that led to the outcome. Class counsel had sought $233,000, or one-third of the fund, Bloomberg Law reported.
The case stems from a September 2023 cyberattack that breached the $773-million credit union’s internal network, prompting five nearly identical class action lawsuits, the court noted, according to Bloomberg Law.