Cash App Data Breach Settlement Claim: Deadline, Eligibility and Payout 2024

The Cash App Security Settlement has received preliminary approval from the court and the claim form is pending court approval. Class members who wish to file a claim can review the settlement details here.

Cash App Data Breach Settlement Claim

The plaintiff filed two complaints against Block and Cash App Investments, which were later replaced by a class action lawsuit. The lawsuits allege that the defendants failed to protect customer information in the 2022 data security breach and the 2023 data security breach.

According to the notice, a former CashApp employee accessed customer accounts without authorization, and in late 2023, a third party accessed CashPay accounts via phone numbers for reuse. The plaintiffs claim that the defendants ignored and failed to address customer complaints reporting fraudulent transactions.

The defendants deny all wrongdoing alleged in the lawsuit but agree to settle the case and settle the lawsuit for $15 million. Class members seeking compensation for inconvenience may file claims before the deadline of November 18, 2024, as the claim form has already been posted by the settlement administrator.

Cash App Data Breach Settlement Claim Important Dates

The class members interested in the Cash App Data Breach settlement should mark the following important dates to exercise their rights timely:

Who can claim the Cash App Data Breach Settlement?

The US people who fulfill the below requirement will be the class members of the Cash App data breach settlement and will be eligible to submit their claim form:

• You are a class member if you are a former or current customer of Cash APP or Cash App investing, or its subsidiaries, affiliates, or parents.
• Your personal information, cash app investing account, or cash app account was accessed or acquired information by a third party without your consent/ you have faced unauthorized fraudulent withdrawals or funds transfer, error in the cash app account or in any financial account linked with Cask App account between the class period, 23 August 2018 to 20 August 2024. 

Under the Cash App data breach agreement, the $15 million settlement will be used to cover the following expenses before any settlement benefits are distributed:

• Attorney’s fees and costs
• Class Representative Service Awards 
• Settlement Administration costs 

After the administrator deducts the above expenses from the Settlement fund, the class members with valid claims will receive compensation from the remaining net Settlement fund. The Settlement benefit for the class member is as follows:

• Compensation for Out-of-pocket losses: The class members who submit a valid claim for the Out-Of-Pocket losses can receive a reimbursement of $25,00. The out-of-pocket losses are traceable Data security incidents, errors in resolution in connection with Cash App investing or Cash App accounts, or unauthorized account events during the class period. The out-of-pocket loss includes losses, such as:

• The costs linked with credit monitoring or identity theft insurance,
• The costs that class members spend in requesting the credit report,
• The costs that are spent on canceling the payment card or requesting a replacement card
• Costs that are spent on freezing the credit
• Costs that are spent on closing a bank account/ or opening a new bank account
• Other expenses such as long-distance phone charges, express mail, postage fees, and other fees.

• Lost Time: The class members will get compensated for their time spent dealing with the Data security incident or response to the unauthorized account event. According to the agreement, the class members would receive $25 per hour for up to 3 hours spent on dealing with data breaches, leading to a maximum payment of up to $75.
• Transaction Loss Compensation: Class members with valid claims who have faced any monetary losses due to the 2022 data breach are eligible for compensation for their loss during the class period. The compensation will be approved with the appropriate documents, such as police reports, complaints to defendants of the monetary loss, etc. The payout of the transaction loss will depend on the money loss, and the class members will get compensation for loss that has not been reimbursed by the defendant. 

Distribution of payments to class members with valid claims will be made as follows: If for any reason there are funds remaining in the net settlement fund after a distribution, the Administrator will distribute the remaining funds proportionally to eligible class members.

How to Claim the Cash App Data Breach Settlement?

To claim the Cash App data breach settlement, follow these steps:

1. Visit the Settlement Website: Go to the official Cash App Security Settlement website: cashappsecuritysettlement.com.
2. Enter Notice ID and Confirmation Code: If you received a notice by mail or email, enter the provided Notice ID and Confirmation Code.
3. File a Claim: If you haven’t received a notice, you can still file a claim by providing your $Cashtag identifier and information about your claims.
4. Submit Documentation: Provide third-party documentation to back up your claims, such as costs for credit monitoring, identity theft insurance, or fees incurred due to the breach.
5. Submit by Deadline: Ensure you submit your claim by November 18, 2024

The class members who wish to receive compensation for their inconvenience due to the data breach can submit the claim form. The payout will be distributed when the court approves the settlement in the final hearing scheduled for 16 November at 9:30 AM PST. 

The class members should submit the claim by the deadline of 18 November 2024 with the proper documentation required to claim the settlement benefit. 

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