If you’ve been a Cash App user since 2018, there’s an important update you won’t want to miss. The deadline is fast approaching to submit your claim as part of a substantial $15 million settlement from a class action lawsuit. You could be eligible for up to $2,500, so it’s crucial to act quickly, with just about a week left to file your claim.
In 2022, Block Inc., the parent company of Cash App and Cash App Investing, faced serious allegations. Accused of negligence, the company allegedly breached its obligations to users when a former employee gained unauthorized access to account data. This breach led to a significant notification effort, as Block informed approximately 8.2 million current and former users about the security incident, according to a filing with the U.S. Securities and Exchange Commission.
The troubles for Block didn’t end there. In 2023, the lawsuit claimed that Block was negligent once again. This time, an “unauthorized user” reportedly accessed certain Cash App accounts by exploiting recycled phone numbers linked to those accounts.
Beyond the breaches, Block and Cash App Investing faced accusations of not taking sufficient measures to safeguard user accounts after both incidents. They were criticized for failing to adequately resolve customer complaints related to unauthorized or fraudulent transactions.
With the deadline near, it’s essential for eligible users to submit their claims for a share of the settlement. Stay informed and take the necessary steps to ensure your claim is filed on time.
Amidst the ongoing developments with Block and Cash App Investing, it’s important to be aware of a recent agreement they reached earlier this year. Although they denied any liability or wrongdoing, they consented to a substantial $15 million settlement.
Are You Eligible for the Settlement Cash App ?
If you have ever used Cash App or Cash App Investing, you might qualify for a portion of this settlement. Here’s how you can determine your eligibility:
- You are or were a user of Cash App and/or Cash App Investing.
- Your account was accessed without your permission.
- There were unauthorized or fraudulent withdrawals or transfers from your account between August 23, 2018, and August 20, 2024.
Important Deadline
To claim your share of the settlement—or to opt out—you need to act by November 18, 2024, at 10:59 p.m. PT. This deadline is crucial, as noted on the settlement website.
How to Proceed
If you’ve received a notice via mail or email, you can use your notice ID and confirmation code to proceed on the settlement website. However, if you did not receive a notice but believe you are eligible, don’t worry. You can still complete an online claim form to participate.
If the settlement and payments receive approval, you may be eligible to claim up to $2,500 for “out-of-pocket losses” incurred during the specified period, as detailed on the settlement website. To qualify, you must provide third-party documentation linking these losses to a “data security incident,” an “unauthorized account event,” or a “deficiency in error resolution” involving your Cash App or Cash App Investing account.
Reimbursement for Lost Time
Additionally, you can file a claim to be reimbursed for lost time, which is capped at $25 per hour for up to three hours, allowing a maximum of $75. To support your claim for documented transaction losses resulting from an “unauthorized account event,” you’ll need to submit at least one of the following:
- A copy of a notification regarding an unauthorized account event.
- A copy of a police report related to an unauthorized account event.
- A document proving that your account was accessed without your permission.
Documentation Requirements
Ensuring you have the correct documentation is crucial for a successful claim. Be prepared to provide evidence that clearly demonstrates the connection between your financial loss and the security breach or unauthorized activity.