Ashley Madison parent company reaches $11.2M cyberattack settlement

The Toronto-based parent company of the infidelity dating site Ashley Madison says it has reached a $11.2-million (U.S.) settlement in American class-action lawsuits stemming from a massive security breach two years ago.Ruby Corp., which was previously known as Avid Life Media, says the proposed settlement must first be approved by the United States District Court for the Eastern District of Missouri, where the lawsuits have been consolidated.The lawsuits came after a cyberattack exposed the personal dealings and financial information of millions of purported clients.Read more:Ashley Madison owner pays $1.6M to settle U.S. hack probesArticle Continued BelowNo more fembots, says Ashley Madison’s new CEOAshley Madison customers complain of blackmail after hackThey allege Ashley Madison misled consumers about its security measures and had inadequate safeguards in place.