Cash App has agreed to a $15 million settlement following allegations of inadequate data protection measures. This settlement offers eligible users the opportunity to claim compensation of up to $2,500 each.
The lawsuit addresses data breaches that allegedly occurred between 2022 and 2023. According to the lawsuit, the 2022 breach involved an employee’s unauthorized access to Cash App Investing accounts; the 2023 breach reportedly involved a third party’s unauthorized access using recycled phone numbers. While Cash App maintains its innocence, the company has consented to compensate affected customers. If you're one of the millions of Cash App users in the U.S., here's how to act now to receive your payout.
To qualify for the settlement, individuals must meet specific criteria:
1. Be a current or former Cash App user
2. Have had personal information compromised without consent, and/or...
3. Experienced unauthorized transactions between Aug. 23, 2018, and Aug. 20, 2024.
Eligible claimants can submit their applications through the official settlement website. Those who received a Notice ID and Confirmation Code should have this information ready. However, individuals without these details can still apply.
Supporting documents such as receipts, credit card statements, or police reports may be required to substantiate claims of involvement in and impact from the data breaches.
The deadline for claim submissions is November 18, 2024. For anyone wishing to opt out of the settlement, they must voice their objections by November 1, 2024. The final court hearing is scheduled for December 16, 2024, after which payments will be distributed, barring any complications.
Keep in mind: You are submitting your claim under penalty of perjury. If you do not qualify for this settlement, don't file a claim. By submitting a fraudulent claim, you'll be hurting all the actually eligible class-action suit members.
Compensation amounts will vary based on individual circumstances and the extent of the breach's impact on each claimant. This settlement could potentially affect a significant number of individuals.
For those interested in participating or seeking more information, visiting the official settlement website is the best way to ensure compliance with all necessary procedures and deadlines.
