Abbott Laboratories Employees Credit Union Settlement Ends Class Action Lawsuit Over 2024 Data Breach

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Abbott Laboratories Employees Credit Union (ALEC) has agreed to a settlement to end a class action lawsuit that alleged the financial institution failed to protect private information on its systems from an August 2024 data breach.

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The Abbott Laboratories Employees Credit Union class action settlement received preliminary approval from the court on May 6, 2026. The deal covers all United States residents who were sent a data breach notice stating that their personal information was potentially compromised in the data incident discovered by ALEC on or about August 2, 2024.

Court documents state that approximately 36,000 people are covered by the class action settlement.

The court-approved website for the ALEC class action settlement can be found at ALECDataSettlement.com.

Abbott Laboratories Employees Credit Union settlement class members who submit a timely, valid claim form can receive up to $2,500 for out-of-pocket losses incurred between August 2, 2024 and September 3, 2026 due to the data breach. This benefit covers losses from identity theft or fraud and costs for credit reports, credit monitoring, freezing and unfreezing credit, replacement IDs, postage, and more.

Class members must submit proof, such as bank statements or receipts, to receive a documented-loss payment.

In addition to a documented-loss payment, class members can also file a claim form to receive a pro rata cash payment, with no proof required. The final amount of this payout will be determined based on the total number of valid claims filed.

Finally, all settlement class members can receive two years of CyEx Financial Shield Pro using the enrollment code that was included in the settlement notice. Class members will be able to activate the CyEx service, which includes financial fraud insurance, identity monitoring and more, following final approval of the deal.

To submit an ALEC settlement claim form online, class members can head to this page and enter the login ID and PIN found on their copy of the settlement notice. Alternatively, class members can download a PDF claim form to print, complete, and return by mail to the settlement administrator.

All ALEC claim forms must be submitted online or postmarked no later than September 3, 2026.

The court will determine whether to grant the ALEC settlement final approval following a hearing on September 18, 2026. Compensation will begin to be made available to class members only after final approval has been granted and any appeals have been resolved.

The Abbott Laboratories Employees Credit Union class action lawsuit claimed that the credit union failed to implement reasonable cybersecurity safeguards to protect private information from a data breach that occurred on or around August 2, 2024.

Per court documents, private information that may have been compromised in the breach included names, financial account information, and Social Security numbers.

Head to ClassAction.org’s settlements page for a complete list of data breach settlements.