Accellion Inc has reached an $8.1 million deal with a proposed nationwide class to end litigation over a breach of its legacy file transfer product, a platform that allowed companies to securely share large or sensitive files, according to settlement papers filed in California federal court.
The Palo Alto-based tech company faced claims that it failed to properly secure sensitive personal information of millions of individuals after hackers exploited a vulnerability in Accellion's platform, according to a motion for preliminary approval of the settlement, filed by the plaintiffs' lawyers on Wednesday.
