Up to $850K EFS Advisors Settlement Ends Class Action Lawsuit Over 2024 Aviben Data Breach

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EFS Advisors LLC and Educators Benefit Consultants, LLC, which does business as third-party employee benefits administrator Aviben, have agreed to an up to $850,000 settlement to resolve a class action lawsuit that alleged the companies failed to protect confidential information from a data breach detected in February 2024.

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The EFS Advisors class action settlement received preliminary approval from the court on June 5, 2026. Eligible to participate in the settlement are all living individuals in the United States whose private information was potentially accessed in the Aviben data breach.

The court-approved website for the EFS Advisors class action settlement can be found at EFSDataSettlement.com.

Settlement class members who file a timely, valid claim form can receive up to $2,500 for documented out-of-pocket losses incurred due to the data breach. This benefit covers losses from identity theft or fraud and costs for credit reports, credit monitoring or other identity theft insurance products, bank fees, long-distance phone charges, postage, gasoline, and more.  

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

In lieu of a documented-loss payment, class members can file a claim form to receive a $50 cash payment, with no proof required.

Should the total amount of payments to class members and other costs and expenses exceed the $850,000 settlement cap, payouts will be decreased on a pro rata basis.

Lastly, all class members can elect on their claim form to receive one year of three-bureau credit monitoring, which includes identity theft insurance.

To submit an EFS Advisors settlement claim form online, class members can head to this page and enter the ID and confirmation code 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 Aviben data breach settlement claim forms must be submitted online or postmarked by October 22, 2026.

The court will determine whether to grant the EFS Advisors settlement final approval following a hearing on November 6, 2026. Compensation will begin to be distributed to class members only after final approval has been granted and any appeals have been resolved.

The EFS Advisors class action lawsuit alleged that the investment firm and Aviben failed to implement reasonable cybersecurity measures to protect clients’ confidential information from a data breach reportedly detected on February 22, 2024.

Court documents state that private information that may have been compromised in the breach included personally identifiable information and financial account or payment card information.

Did you know that some class action settlements require no proof to submit a claim? Check out the latest current class action settlements.