A $637K Lyon Real Estate settlement offers cash and data monitoring to those potentially impacted by an April to May 2023 data breach.

A class action contained allegations that the real estate company failed to adequately safeguard personal client information from a targeted data breach between April 2023 and May 2023. This allegedly resulted in the exposure of names, dates of birth, Social Security numbers, medical information, and health insurance information.

The court-approved website for the Lyon Real Estate data breach settlement can be found at LyonDataIncidentSettlement.com. The settlement has been preliminarily approved.

The court will consider final approval of the settlement in March 2026.

Olivia DeRicco "$637K Lyon Real Estate Settlement Ends Class Action Data Breach Lawsuit" https://www.classaction.org/news/637k-lyon-real-estate-settlement-ends-class-action-data-breach-lawsuit (Sep. 26, 2023).

Commentary

There are ways to help protect data on real estate transaction management platforms:

1. Limit access to controls and permissions.

2. Use secure, encrypted document storage to prevent unauthorized access.

3. Utilize Two-Factor Authentication (2FA)

4. Track all user activities within the platform.

5. Utilize real-time monitoring and alerts.

6. Have online and hard disc backup and recovery systems.

7. Offer customer service and user support from trained personnel. 

Protecting data also enhances client confidence – the foundation of your success.