Doxim Reaches $5.5M Settlement Over 2023 Data Breach Impacting Credit Union Customers
On May 5, 2026, plaintiffs in a class-action lawsuit against software-as-a-service provider Doxim Inc. requested preliminary approval of a $5.5 million settlement from a Michigan federal judge. The agreement aims to resolve claims that Doxim failed to safeguard sensitive personal data, which was exposed in a 2023 data breach.
The breach, which compromised customer information, led to allegations that Doxim neglected to implement adequate security measures. The proposed settlement covers affected credit union customers, offering financial compensation for damages stemming from the incident.
The case is being heard in the U.S. District Court for the Eastern District of Michigan, with the settlement marking a significant step toward resolving the legal dispute. If approved, the deal would conclude litigation over the breach’s fallout, which raised concerns about third-party vendor security risks in the financial sector.
Source: https://www.law360.com/articles/2473906/software-co-doxim-inks-5-5m-deal-to-end-data-breach-suit
Doxim cybersecurity rating report: https://www.rankiteo.com/company/doxim
"id": "DOX1778034341",
"linkid": "doxim",
"type": "Breach",
"date": "1/2023",
"severity": "85",
"impact": "4",
"explanation": "Attack with significant impact with customers data leaks"{'affected_entities': [{'customers_affected': 'Credit union customers',
'industry': 'Technology/Financial Services',
'name': 'Doxim Inc.',
'type': 'Software-as-a-Service Provider'}],
'data_breach': {'personally_identifiable_information': 'Yes',
'sensitivity_of_data': 'High',
'type_of_data_compromised': 'Sensitive personal data'},
'date_publicly_disclosed': '2026-05-05',
'description': 'Plaintiffs in a class-action lawsuit against Doxim Inc. '
'requested preliminary approval of a $5.5 million settlement '
'to resolve claims that Doxim failed to safeguard sensitive '
'personal data exposed in a 2023 data breach. The breach led '
'to allegations of inadequate security measures and impacted '
'credit union customers.',
'impact': {'brand_reputation_impact': 'Concerns about third-party vendor '
'security risks in the financial sector',
'data_compromised': 'Sensitive personal data',
'financial_loss': '$5.5 million settlement',
'legal_liabilities': 'Class-action lawsuit'},
'investigation_status': 'Settlement proposed',
'post_incident_analysis': {'root_causes': 'Inadequate security measures'},
'references': [{'source': 'Class-action lawsuit filing'}],
'regulatory_compliance': {'legal_actions': 'Class-action lawsuit'},
'title': 'Doxim $5.5M Settlement Over 2023 Data Breach Impacting Credit Union '
'Customers',
'type': 'Data Breach'}