Sony Hack Settlement Includes $4.5 Million in Compensation

Extended identity theft protection and cash payouts part of settlement Sony reached with current and former employees over November 2014 cyber attack

Last Updated: October 20, 2015 @ 10:21 AM

The details of the settlement reached between Sony Pictures Entertainment in the class action lawsuit resulting from the November 2014 hack have been revealed.

The settlement deemed that Sony will provide up to $4.5 million in compensation, including $2 million for unreimbursed expenses and up to $2.5 million for losses from identity theft.

For reimbursing plaintiffs who spent money on paying for preventative measures against identity theft, Sony will provide up to $2 million, with $1,000 being the max for each individual.

Sony agreed to pay up to $10,000 per individual for actual losses from identity theft resulting from the hack.

The settlement also deemed that Sony will continue to provide identity theft protection for the individuals part of the class action lawsuit, free of charge, through December 31, 2017.

The lawyers involved in the lawsuit were awarded up to $3.49 million in attorneys fees, costs and expenses.

A hearing is scheduled for Nov. 16 for the court to approve the terms of the settlement.

Pamela Chelin contributed to this report.