Frequently Asked Questions

The Court authorized the notice because you have a right to know about the Settlement, and all of your options, before the Court decides whether to give “final approval” to the Settlement. The notice explains the nature of the lawsuit that is the subject of the Settlement, the general terms of the Settlement, and your legal rights and options.

Judge William F. Highberger of the Superior Court of the State of California in Los Angeles County is overseeing this case captioned as Min Woo Bae v. Pacific City Bank, Case No. 21STCV45922. The person who brought the lawsuit is called the Plaintiff. The company being sued, Pacific City Bank (“PCB”), is called the Defendant.

The lawsuit claims that Defendant was responsible for the Data Incident and asserts claims such as: (i) negligence; (ii) unjust enrichment; (iii) violations of California’s Consumer Privacy Act (Civil Code § 1798.150(a)); and (iv) violations of California’s Unfair Competition Law (Cal. Bus. & Prof. Code § 17200, et seq.).

Defendant denies these claims and says it did not do anything wrong. No court or other judicial entity has made any judgment or other determination that Defendant has any liability on these claims or did anything wrong.

In a class action, one or more people called class representatives or representative plaintiffs sue on behalf of all people who have similar claims. Together, all of these people are called a class, and the individuals are called class members. One court resolves the issues for all class members, except for those who exclude themselves from the class.

The Court has not decided in favor of the Plaintiff or Defendant. Instead, both sides agreed to the Settlement. The Settlement avoids the cost and risk of a trial and related appeals, while providing benefits to members of the Class (“Class Members”). The “Class Representative” appointed to represent the Class, and the attorneys for the Class (“Class Counsel,” see FAQ 18) think the Settlement is best for all Class Members.

You are affected by the Settlement and potentially a member of the Class if you reside in the United States and were sent a Notice Letter notifying you that your Private Information was compromised in the Data Incident.

Only Class Members are eligible to receive benefits under the Settlement. Specifically excluded from the Class are all Persons who timely and validly request exclusion from the Class, the Judge assigned to evaluate the fairness of this settlement, and 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 Data Incident or who pleads nolo contendere to any such charge.

If you are not sure whether you are included in the Settlement, you may call 1-844-740-2251 with questions.  You may also write with questions to:

Pacific City Bank Settlement Administrator
P.O. Box 4147
Baton Rouge, LA 70821
info@pcbdatasettlement.com

The Settlement provides that Defendant will fund the following payments up to a total of $700,000: (a) $25 per hour, up to a total of $100, for Class Members who attest that the time claimed was actually spent as a result of the Data Incident; (b) up to $5,000 for reimbursement of your documented out-of-pocket expenses reasonably traceable to the Data Incident; and (c) $250 for each verified and documented incident of fraud (included in the cap of $5,000 for unreimbursed expenses) that you incurred.

The Settlement also provides that Class Members who were residents of the State of California at the time of the Data Incident are eligible for an additional benefit of $100 upon submitting a claim and attesting that they were a California resident at the time of the Data Incident.

After the distribution of attorneys’ fees, Class Counsel’s litigation expenses, Administrative Fees, Service Award, and Settlement benefits to claimants, the Settlement Administrator will make a pro rata settlement payment of $50, subject to adjustment as set forth in the below paragraph, out of any remaining funds to each Class Member who submits a claim for this additional cash payment. No documentation or attestation is required. Based on the claims received so far under the Settlement and the number of claims expected to be received under the extend claim deadline, the pro rata cash payment is projected to exceed $200.00. 

The Settlement benefits are also subject to pro rata reduction as needed in the event that the total claims exceed the $700,000 cap on payments to be made by Defendant, and payments may also be increased on a pro rata basis until the Settlement Fund is distributed. Payment of attorneys’ fees, costs and expenses (see FAQ 19) and the costs of notifying the Class and administering the Settlement will also be paid out of the Settlement Fund.

Also as part of the Settlement, Defendant either has undertaken or will undertake certain reasonable steps to further secure its systems and environments.

Class Members who submit a claim are eligible to receive:

a) Reimbursement of actual, documented, unreimbursed out-of-pocket expenses resulting from the Data Incident (up to $5,000 in total), such as

• • • 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 August 30, 2021 that you attest under penalty of perjury were caused or otherwise incurred as a result of the Data Incident, through the date of claim submission; and
    • Miscellaneous expenses such as notary, data charges (if charged based on the amount of data used) fax, postage, copying, mileage, cell phone charges (only if charged by the minute), and long-distance telephone charges.

b) Compensation for time spent remedying issues related to the Data Incident, up to the amount of $100.

c) Compensation for verified and documented instances of fraud at $250 per occurrence, up to the amount of $5,000 in total.

d) Compensation of up to $100 for eligible California residents.

e) A potential residual cash payment, which is estimated to be at $50 but may adjusted upward or downward based on how many other claims are made.

To receive a benefit under the Settlement, you must complete and submit a claim for that benefit (a “Claim”). Every Claim must be made on a form (“Claim Form”) available HERE or by calling 1-844-740-2251. Read the instructions carefully, fill out the Claim Form, provide the required documentation, and submit it according to the instructions on the Claim Form.

The Settlement Administrator will decide whether and to what extent any Claim made on each Claim Form is valid. The Settlement Administrator may require additional information. If you do not provide the additional information in a timely manner the Claim will be considered invalid and will not be paid.

The Court will hold a hearing at 11 a.m. PT on May 30, 2024 to decide whether to approve the Settlement. If the Court approves the Settlement, there may be appeals from that decision and resolving them can take time, perhaps more than a year. It also takes time for all the Claim Forms to be processed.  Please be patient.

Defendant gets a release from all claims covered by this Settlement. Thus, if the Settlement becomes final and you do not exclude yourself from the Settlement, you will be a Class Member and you will give up your right to sue Defendant and other persons (“Released Persons”) as to all Released Claims as that term is defined in the Settlement Agreement. This release is described in the Settlement Agreement, which is available at HERE. If you have any questions you can talk to the law firms listed in FAQ 18 for free or you can talk to your own lawyer.

No.  If you exclude yourself you will not be entitled to receive any benefits from the Settlement, but you will not be bound by any judgment in this case.

No. Unless you exclude yourself, you give up any right to sue Defendant (and any other Released Persons) for the claims that this Settlement resolves. You must exclude yourself from the Class to start your own lawsuit or to be part of any different lawsuit relating to the claims in this case. If you exclude yourself, do not submit a Claim Form to ask for any benefit under the Settlement.

To exclude yourself, send a letter that says you want to be excluded from the Settlement in Min Woo Bae v. Pacific City Bank, Case No. 21STCV45922. The letter must: (a) state your full name, address, and telephone number; (b) contain your personal and original signature or the original signature of a person authorized by law to act on your behalf; and (c) state unequivocally your intent to be excluded from the Settlement. If your request for exclusion covers a financial account or health insurance plan that includes co-signers or co-holders on the same account or plan, you shall be deemed to be properly completed and executed as to that financial account or insurance plan only if all co-signers or co-holders elect to and validly opt-out. You must mail your exclusion request postmarked by November 6, 2023, to:

 Pacific City Bank Settlement Administrator
Attn: Exclusion Request
P.O. Box 4147
Baton Rouge, LA 70821

You can tell the Court that you do not agree with the Settlement or some part of it by objecting to the Settlement. The Court will consider your views in its decision whether to approve the Settlement. The Court can only approve or deny the Settlement and cannot change the terms. To object, you should mail your objection to the Clerk of the Court, Class Counsel and Defendant’s Counsel, at the mailing addresses listed below, postmarked by no later than the objection deadline, November 6, 2023:

Your objection if written, should include all of the following: (i) your full name and address; (ii) the case name and docket number, Min Woo Bae v. Pacific City Bank, Case No. 21STCV45922(iii) a written statement for all grounds for the objection, accompanied by any and all legal support for the objection the objector believes is applicable; (iv) the identity of any and all counsel representing the objector in connection with the objection; (v) a statement whether the objector and/or his or her counsel will appear at the Final Approval Hearing; and (vi) the objector’s signature or the signature of the objector’s duly authorized attorney or other duly authorized representative (if any) representing him/her in connections with the objection. Regardless of whether you submit a written Objection, the Court may permit you to attend and be heard at the Final Approval Hearing. 

Objecting is telling the Court that you do not like the Settlement and why you do not think it should be approved. You can object only if you are a Class Member. Excluding yourself is telling the Court that you do not want to be part of the Class and do not want to receive any payment from the Settlement. If you exclude yourself, you have no basis to object because you are no longer a member of the Class and the case no longer affects you. If you submit both a valid objection and a valid request to be excluded, you will be deemed to have only submitted the request to be excluded.

Yes. The Court appointed Terence R. Coates of Markovits, Stock & DeMarco, LLC; Joseph M. Lyon of The Lyon Firm; and Kiley Grombacher of Bradley Grombacher LLP as Class Counsel, to represent the Class in settlement negotiations. If you want to be represented by your own lawyer, you may hire one at your own expense.

Class Counsel will ask the Court for an award for attorneys’ fees up to $233,333.33, plus litigation expenses of $28,910.09. Defendant has agreed to pay any award of attorneys’ fees, costs and expenses up to those amounts, to the extent approved by the Court. This payment for Attorneys’ Fees will be made out of the Settlement Fund. Any such award would compensate Class Counsel for investigating the facts, litigating the case, and negotiating the Settlement and will be the only payment to them for their efforts in achieving this Settlement and for their risk in undertaking this representation on a wholly contingent basis.

Class Counsel will also ask the Court for a service award up to $5,000 for the Class Representative.

Any award for attorneys’ fees, costs and expenses for Class Counsel, and for a service award to the Class Representative, must be approved by the Court. The Court may award less than the amounts requested. Class Counsel’s papers in support of final approval of the Settlement will be filed no later than May 16, 2024 and their application for attorneys’ fees, costs and expenses, and service award has been posted on the Settlement Website.

The Court will hold a Final Approval Hearing at 11 a.m. PT on May 30, 2024 at the Spring Street Courthouse, 312 North Spring Street, Los Angeles, CA 90012, or by remote or virtual means as ordered by the Court. At this hearing, the Court will consider whether the Settlement is fair, reasonable, and adequate. If there are timely and valid objections, the Court will consider them and will listen to people who have asked to speak at the hearing if such a request has been properly made. The Court will also rule on the request for an award of attorneys’ fees and reasonable costs and expenses, as well as the request for service award for the Class Representative. After the hearing the Court will decide whether to approve the Settlement. We do not know how long these decisions will take. The hearing may be moved to a different date or time without additional notice, so Class Counsel recommends checking this website or calling 1-844-740-2251.

No. Class Counsel will present the Settlement Agreement to the Court. You or your own lawyer are welcome to attend at your expense, but you are not required to do so. If you send an objection, you do not have to visit the Court to talk about it. As long as you filed your written objection on time with the Court and mailed it according to the instructions provided in FAQ 16, the Court will consider it.

You may ask the Court for permission to speak at the Final Approval Hearing. To do so, you can either file an objection according to the instructions in FAQ 16, including all the information required, or you may appear at the hearing and request Court permission to be heard.

If you do nothing you will not get any money from this Settlement. If the Settlement is granted final approval and the judgment becomes final, you will not be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against Defendant and the other Released Persons based on any of the Released Claims, ever again.

The notice summarizes the proposed Settlement. More details are in the Settlement Agreement itself. A copy of the Settlement Agreement is available HERE. You may also call the Settlement Administrator with questions or to receive a Claim Form at 1-844-740-2251.