$27.6 Million in Claimed Damages
State Street estimates it has incurred $27.6 million in direct damages and costs stemming from the disruptions and the need to secure replacement systems.
The lawsuit marks the latest chapter in a series of legal actions following the 2021 hack. Previous cases have included claims by employees of companies using UKG Kronos’ software-as-a-service platform, as well as suits brought directly by employers.
Messages seeking comment from counsel for State Street and a spokesperson for UKG Kronos were not immediately returned Monday.
State Street Bank and Trust Co. is represented by Sean T. Carnathan of O’Connor Carnathan & Mack LLC and Richard Donoghue, Edward Cavasos and James Quail of Pillsbury Winthrop Shaw Pittman LLP.
Counsel information for UKG Kronos was not immediately available.
As litigation unfolds, the Kronos Data Breach $27.6M suit serves as a stark reminder that in the digital age, a single cyber intrusion can reverberate across continents — and through courtrooms — long after the initial breach.
