In a significant development for Cash App customers, you may be entitled to claim more than $2,500, a great deal of money, each as part of a substantial $15 million class-action settlement related to data and security breaches at the popular mobile payment service.
If your account was accessed without your authorization or if you experienced fraudulent withdrawals or transfers, you are eligible to file a claim. This applies to individuals who had or currently have an account between August 23, 2018, and August 20, 2024, according to the settlement website.
Cash App Settlement Background
This class-action lawsuit stems from a 2021 incident disclosed by the company in 2022, where a former employee downloaded reports of some U.S. users without permission. Additionally, another breach was disclosed in 2023, where an unauthorized user accessed certain Cash App accounts using linked phone numbers.
- Customers could receive a lot of money, over $2,500 each.
- The settlement amount totals $15 million.
- Eligibility covers accounts from August 23, 2018, to August 20, 2024.
- The lawsuit highlights two significant security breaches.
If you believe you are eligible, make sure to file your claim promptly to benefit from this settlement.
In a recent legal development, plaintiffs have claimed that Cash App and its parent company, Block, failed to implement adequate controls to prevent unauthorized users from accessing accounts. Additionally, the plaintiffs argue that the company mishandled customer complaints regarding security breaches and fraudulent transactions.
Strengthening Data Security
As part of the settlement, both Cash App and Block have committed to taking measures to enhance their data security protocols. This move is aimed at providing better protection for their users and preventing future security issues.
Settlement Agreement
While Cash App and Block have denied any wrongdoing, they have agreed to a settlement amount of $15 million to resolve the litigation. After covering attorneys’ fees and administration costs, the remaining funds will be distributed to impacted customers who submit eligible claims.
How to File a Cash App Claim to Get Your Money
If you are an affected customer, you can file a claim by visiting the designated site: https://www.cashappsecuritysettlement.com/ . To proceed, you will need to either enter a notice ID and confirmation code from a mailed or emailed notice, or file a claim even if you have not received such a notice.
Deadline for Filing a Cash App Claim to get money
Customers have until November 18 to file a claim under the settlement. Make sure to submit your claim before the deadline to be eligible for compensation.
Wondering how much money you can get in the recent settlement? While the exact amount remains uncertain, it largely depends on the number of people who file claims. However, there is some clarity on potential reimbursements.
Claiming Your Money
If you were affected by the data and security breaches, you may be eligible to submit claims for up to $2,500 to cover out-of-pocket losses. To qualify, you’ll need to provide third-party documentation to support your claim, as specified on the settlement website.
Out-of-pocket expenses that may be reimbursed include:
- Costs for credit monitoring or identity theft insurance.
- Fees for requesting a credit report or initiating a credit freeze.
- Expenses from canceling a payment card or obtaining a replacement card.
- Costs related to closing a bank account and opening a new one.
- Unrefunded overdraft fees.
- Unrefunded late or missed payment fees or charges.
Compensation for Lost Time
In addition to out-of-pocket expenses, customers can also claim up to three hours of lost time, compensated at a rate of $25 per hour, according to the settlement details.
Stay informed and ensure you gather all necessary documentation to maximize your claim. The settlement offers a chance to recoup some of the losses incurred from the breach, so make sure to take full advantage of it.
Are you a Cash App user who’s experienced a transaction loss? You can file a claim to get reimbursed. To do so, you’ll need to submit necessary documentation, such as a copy of a police report.
What Happens if the Settlement Fund Can’t Fully Pay Every Claim?
If there’s not enough money in the settlement fund to cover every approved claim in full, payments will be made on a reduced pro rata basis.
What Other Options Do I Have?
If you’re considering your options, here are a few paths you can take:
- Opt Out: If you want to exclude yourself from the settlement, you can choose to “opt out” before November 1. This allows you to sue or be part of another related lawsuit against the defendants in the future.
- Object: You can also object to the settlement agreement by writing to the court before November 1 if you believe the settlement is unfair or inadequate.
- Do Nothing: Lastly, you can choose to do nothing. However, if you take no action, you will not receive any payments and may also give up the right to pursue another lawsuit with claims covered in the settlement.
Weigh your options carefully to decide the best course of action for your situation.
