Sony Pictures has settled a class action lawsuit filed by employees who feared identity theft.

Sony will pay almost $8 million to current and former employees who suffer damages or need fraud protection services, reported CNN

Several suits were filed in the immediate aftermath of last winter's cyber-attack. Personal data from thousands of employees was reportedly compromised along with private emails from celebrities and executives, CNN said. 

The agreement was "mutually agreed upon with the plaintiffs and is an important, positive step forward in putting the cyber-attack firmly behind us," said Michael Lynton, CEO of Sony Pictures. 

Sony will also extend existing credit and fraud monitoring for employees for two more years.

The studio "has emerged from the cyber-attack a stronger company with a smart and strategic vision for the road ahead," he wrote. "We are looking forward, not back, and we are confident and optimistic about our future."