Frequently Asked Questions

A state Court authorized the Notice because you have a right to know about the proposed Settlement of this class action lawsuit and about all of your options before the Court decides whether to grant final approval of the Settlement. This Notice explains the lawsuit, your legal rights, what benefits are available, and who can receive them.
 

The Action is captioned Pena et al. v. Financial Asset Management Systems, Inc., 24-C-01218-S1, pending in the State Court of Gwinnett County, Georgia.  The people that filed this lawsuit are called the “Plaintiffs” or “Settlement Class Representatives and the company they sued, Financial Asset Management Systems, Inc., is called the “Defendant.”

This Action alleges that personal information was impacted by the cybersecurity incident that affected Financial Asset Management Systems, Inc. in or around March 2023 (“Security Incident”).

In a class action, one or more individuals sue on behalf of other people with similar claims. These individuals who sue are known as “Class Representatives” or “Plaintiffs.” Together, the people included in the class action are called a “Settlement Class” or “Settlement Class Members.” One court resolves the lawsuit for all settlement class members, except for those who exclude themselves (sometimes called, “opting-out”) from a settlement. In this Settlement, the Class Representatives are Judith Pena and Belinda Anderson.

The Court did not decide in favor of the Plaintiffs or the Defendant. The Defendant denies all claims and contends that it has not violated any laws. Plaintiffs and the Defendant agreed to a Settlement to avoid the costs and risks of a trial, and through the Settlement, Settlement Class Members are eligible to claim payments and other benefits. The Plaintiffs and their attorneys, who also represent the Settlement Class Members, think the Settlement is best for all Settlement Class Members.

The Settlement Class consists of all individuals who reside in the United States and to whom Defendant sent a notice concerning the Security Incident.

Yes. Excluded from the Settlement Class are (i) Financial Asset Management Systems, Inc., its officers and directors; (ii) all Settlement Class Members who timely and validly request exclusion from the Settlement Class; (iii) any judges assigned to this case and their staff and family; and (iv) any other person found by a court of competent jurisdiction to be guilty under criminal law of initiating, causing, aiding or abetting the criminal activity occurrence of the Security Incident or who pleads nolo contendere to any such charge.
 

If you are not sure whether you are included in the Settlement Class, you can ask for free help by calling, emailing or writing to the Settlement Administrator at:
 

Toll-Free: (833) 876-1533
 

Email: [email protected]
 

Mail: Financial Asset Management Systems, Inc.

c/o Kroll Settlement Administration LLC

P.O. Box 225391

New York, NY 10150-5391
 

You may also view the Settlement Agreement here.

If approved by the Court, Defendant will establish a Settlement Fund of $1,731,190 to pay all valid claims submitted by the Settlement Class, together with notice and administration expenses, attorneys’ fees and costs, and any Service Award Payments. If you received a notice from Defendant concerning the Security Incident, you may submit a claim for: (1) documented Out-of-Pocket Losses, with supporting documentation; and (2) identity theft protection and credit monitoring; or (3) instead of documented Out-of-Pocket Losses and identity theft protection and credit monitoring, a pro rata cash payment of the remaining Settlement Funds.
 

Even if you previously accepted the Defendant’s offer of complimentary credit monitoring services, you may still claim two (2) additional years of identity theft and credit monitoring.
 

Settlement Class Members who submit a timely and valid Claim Form are eligible to receive:

1. Documented Out-of-Pocket Losses up to a total of $2,500 per person for Settlement Class Members that submit an Approved Claim and supporting documentation, for Out-of-Pocket Losses incurred as a result of the Security Incident. Out-of-Pocket Losses may include, without limitation, the following: Unreimbursed losses relating to fraud or identity theft; professional fees including attorneys’ fees, accountants’ fees, and fees for credit repair services; costs associated with freezing or unfreezing credit with any credit reporting agency; credit monitoring costs that were incurred on or after the Incident through the date of claim submission; AND
2. Identity Theft Protection and Credit Monitoring. In addition to documented Out-of-Pocket Losses, Settlement Class Members may submit a Claim to accept two (2) years of free identity theft and credit monitoring services; OR
3. Pro Rata Cash Payment. Instead of documented Out-of-Pocket Losses and identity theft protection and credit monitoring, Settlement Class Members may submit a claim for a pro rata cash payment from the Settlement Fund, which will be calculated after payment of any attorneys’ fees, costs, and reimbursement of expenses, any Service Award Payments, the Settlement administration costs, documented Out-of-Pocket Losses, and identity theft protection and credit monitoring.

Unless you opt-out of the Settlement, you cannot sue, continue to sue, or be part of any other lawsuit against the Defendant about any of the legal claims this Settlement resolves. The “Releases” section in the Settlement Agreement describes the legal claims that you give up if you remain in the Settlement Class. The Settlement Agreement can be found here.

Claim Forms may be submitted online or printed and mailed to the Settlement Administrator at:
 

Financial Asset Management Systems, Inc., 
c/o Kroll Settlement Administration LLC, 
P.O. Box 225391 
New York, NY 10150-5391

You may also contact the Settlement Administrator to request a Claim Form by telephone (833) 876-1533, by email [email protected], or by U.S. mail at the address above.

If you submit a claim by U.S. mail, the completed and signed Claim Form must be postmarked by May 13, 2025. If submitting a Claim Form online, you must do so by May 13, 2025.

The short answer is – after the Settlement is “finally approved” and challenges, if any, to that approval are finally resolved. The Court is scheduled to hold a Final Approval Hearing on May 21, 2025 at 10:00 AM ET to decide whether to approve the Settlement, how much attorneys’ fees and costs to award to Settlement Class Counsel for representing the Settlement Class, and whether to award Service Awards to the Class Representatives who brought this Action on behalf of the Settlement Class.
 

If the Court approves the Settlement, there may be appeals. It is always uncertain whether appeals will be filed and, if so, how long it will take to resolve them. Settlement payments will be distributed as soon as possible, if and when the Court grants final approval to the Settlement and after any appeals are resolved.

Yes, the Court appointed Andrew Shamis of Shamis & Gentile, P.A., and David Lietz of Milberg Coleman Bryson Phillips Grossman, PLLC, as Settlement Class Counsel to represent you and other Settlement Class Members. You will not be charged directly for these lawyers; instead, they will receive compensation from the Settlement Fund (subject to Court approval).

If you want to be represented by your own lawyer, you may hire one at your own expense.

It is not necessary for you to hire your own lawyer because Settlement Class Counsel works for you. If you want to be represented by your own lawyer, you may hire one at your own expense.

Settlement Class Counsel’s attorneys’ fees, costs, and expenses will be paid from the Settlement Fund in an amount determined and awarded by the Court. Settlement Class Counsel is entitled to seek no more than one third of the Settlement Fund (approximately $577,005.63) (for these items, subject to Court approval.) As approved by the Court, the Settlement Class Representatives will each be paid a Service Award Payment from the Settlement Fund for bringing and settling the case. The Settlement Class Representatives will seek no more $4,000 each as an incentive award, for a total of $8,000 but the Court may award less than this amount. 

If you do not want to receive any benefits from the Settlement, and you want to keep your right to separately sue the Defendant about the legal issues in this case, you must take steps to exclude yourself from the Settlement Class. This is called “opting-out” of the Settlement Class. The deadline for requesting exclusion from the Settlement is April 14, 2025. 
 

To exclude yourself from the Settlement, you must submit a written request for exclusion to the Court that includes the following information:
 

• the case name: Pena et al. v. Financial Asset Management Systems, Inc., 24-C-01218-S1, in the State Court of Gwinnett County, Georgia;
• your full name;
• current address;
• personal signature; and
• the words “Request for Exclusion” or a comparable statement that you do not wish to participate in the Settlement.
   

Your Request for Exclusion must be mailed to the Settlement Administrator at the address below, postmarked no later than April 14, 2025, or submitted here.
 

Financial Asset Management Systems, Inc., 

ATTN: Exclusion Request

c/o Kroll Settlement Administration LLC

P.O. Box 225391

New York, NY 10150-5391
 

If you exclude yourself, you are telling the Court that you do not want to be part of the Settlement. You may only exclude yourself – not any other person.

If you are a Settlement Class Member, you can choose (but are not required) to object to the Settlement if you do not like it or a portion of it, whether that be to the Settlement benefits, the request for attorneys’ fees or service awards, the releases provided to the Defendant, or some other aspect of the Settlement. Through an objection, you give reasons why you think the Court should not approve the Settlement.
 

For an objection to be considered by the Court, the objection must include: (i) the name of the proceedings; (ii) the Settlement Class Member’s full name and current mailing address; (iii) a statement that states with specificity the grounds for the objection, as well as any documents supporting the objection; (iv) the identity of any attorneys representing the objector; (v) a statement regarding whether the Settlement Class Member (or his/her attorney) intends to appear at the Final Approval Hearing; and (vi) the signature of the Settlement Class Member or the Settlement Class Member’s attorney.
 

Any Settlement Class Member who does not file a timely and adequate objection in accordance with the above paragraph waives the right to object to the Settlement at the Final Approval Hearing and shall be bound by the terms of the Settlement Agreement and by all orders and judgments in the Action.
 

Objections must be mailed to the Settlement Administrator at the address below, postmarked no later than April 14, 2025 or submitted here.
 

Financial Asset Management Systems, Inc.,

ATTN: Objection 

c/o Kroll Settlement Administration LLC

P.O. Box 225391 

New York, NY 10150-5391

Objecting is telling the Court that you do not like something about the Settlement. You can object to the Settlement only if you do not exclude yourself from the Settlement. Excluding yourself from the Settlement means telling the Court you do not want to be part of the Settlement. If you opt-out of the Settlement, you cannot object to it because the Settlement no longer affects you.

The Court is scheduled to hold a Final Approval Hearing on May 21, 2025 at 10:00 a.m. E.T., at 75 Langley Drive, Lawrenceville, Georgia 30046, Courtroom 2E, to decide whether to approve the Settlement, how much attorneys’ fees and costs to award to Settlement Class Counsel for representing the Settlement Class, and whether to award a service award payment to each Class Representative who brought this Action on behalf of the Settlement Class. If you are a Settlement Class Member, you or your attorney may ask permission to speak at the hearing at your own cost. If you do not like the Settlement, remember you may object to it, but you have to follow certain requirements (see Question 16). The date, time, and location of this hearing may change without further notice. Please check this website for updates.

No. Settlement Class Counsel will answer any questions the Court may have. You may attend at your own expense if you wish. If you file an objection, you may but you do not have to come to the Final Approval Hearing to talk about it. If you file your written objection on time and in accordance with the requirements above, the Court will consider it. You may also pay your own lawyer to attend, but such attendance is not necessary for the Court to consider an objection that was filed on time and meets the requirements above.

If you are a Settlement Class Member and you do nothing, you will give up your right to start a lawsuit, continue a lawsuit, or be part of any other lawsuit against the Defendant and the Released Parties, as defined in the Settlement Agreement, about the legal issues resolved by this Settlement. In addition, you will be bound by the releases of the Released Parties in the Settlement and not be eligible to receive a payment from this Settlement.

The Notice summarizes the proposed Settlement. Complete details are provided in the Settlement Agreement. The Settlement Agreement and other related documents are available on the documents page. If you have additional questions, you may contact the Settlement Administrator by email, phone, or mail: 

Email: [email protected]

 
Toll-Free: (833) 876-1533

Mail: Financial Asset Management Systems, Inc. 
c/o Kroll Settlement Administration LLC
P.O. Box 225391 
New York, NY 10150-5391 

Publicly filed documents can also be obtained by visiting the office of the State Court for Gwinnett County, Georgia or by reviewing the Court’s online docket. For those planning to visit the Court for more information, please contact the Court for its regular business hours and for any costs associated with obtaining documents maintained by the Court. 

You may also contact your counsel in this matter, the Settlement Class Counsel, as follows: 

Andrew J. Shamis 
SHAMIS & GENTILE, P.A. 
14 NE 1st Ave, Suite 705 
Miami, FL 33132 
[email protected]
 

David K. Lietz 
MILBERG COLEMAN BRYSON 
PHILLIPS GROSSMAN, PLLC 
5335 Wisconsin Avenue NW, Suite 440 
Washington, D.C. 20015-2052 
[email protected]


PLEASE DO NOT CONTACT THE COURT OR FINANCIAL ASSET MANAGEMENT SYSTEMS, INC.