The Cash App Security Settlement has garnered considerable attention after receiving preliminary approval from the court. With the authorized claim form now available, class members who wish to file for compensation can familiarize themselves with the settlement details. This article will explore key aspects of the settlement, including its background, important deadlines, eligibility criteria, compensation details, and how to submit a claim.
In 2022 and 2023, plaintiffs leveled accusations against Block and Cash App Investing, alleging that the companies failed to safeguard customer information during security incidents that occurred in those years. The complaints were consolidated into a class action lawsuit, claiming that a former Cash App employee and later third parties had unauthorized access to customer accounts. Plaintiffs argue that the defendants neglected to address customer complaints about fraudulent transactions adequately.
1. Cash App Data Breach Settlement: Background and Key Dates
The defendants, while denying any wrongdoing, agreed to settle the case for $15 million to resolve the claims. Those who wish to receive compensation must submit their claim by the deadline, which is November 18, 2024. Key dates to note include the Claim Form Deadline (November 18, 2024), the deadline to object to or exclude oneself from the settlement (November 1, 2024), and the Final Hearing (December 16, 2024).
Marking these dates on your calendar is essential to ensure you don’t miss out on your right to compensation. The Final Hearing will determine the settlement’s approval, scheduled for December 16, 2024, at 9:30 AM PST. The timeline for submitting objections or exclusions is strictly enforced to ensure the smooth progression of the settlement.
2. Eligibility Criteria for the Cash App Data Breach Settlement
Class members eligible for the Cash App Data Breach Settlement are primarily former or current Cash App or Cash App Investing customers between August 23, 2018, and August 20, 2024. During this period, your personal information must have been accessed or acquired by unauthorized third parties. Additionally, you may have experienced unauthorized withdrawals, funds transfers, or errors in your Cash App account or linked financial accounts.
If you fit these criteria, you can file a claim for compensation. The settlement is designed to cover various losses resulting from the data breaches, including financial losses and time spent resolving related issues. Verifying that your circumstances align with the settlement’s eligibility criteria is vital before submitting a claim.
3. Cash App Data Breach Settlement Amount and Compensation Details
The $15 million settlement fund will first cover attorneys’ fees, costs, class representative service awards, and settlement administration costs. After these expenses are deducted, the remaining funds will be distributed among the class members who submit valid claims. Compensation is available for out-of-pocket losses, lost time, and transaction losses incurred during the class period.
Class members who qualify can receive up to $25 for out-of-pocket losses, such as credit monitoring or identity theft insurance costs, credit report requests, payment card cancellations, credit freezes, and expenses for bank account closures or openings. Additional reimbursable expenses include long-distance phone charges, express mail, postage fees, and other incidental costs. Compensation for lost time is calculated at $25 per hour, with a maximum of three hours. Transaction loss compensation depends on proving financial losses through appropriate documentation like police reports or complaints to defendants.
4. How to Submit a Cash App Data Breach Settlement Claim
Online Submission:
- Visit Official Site: Head to the Cash App Data Security Settlement official website.
- Submit Form Digitally: Fill out and submit the claim form using your Notice ID and confirmation received via the settlement notice.
- No Notice Received: If you haven’t received a notice, you can still submit the claim if you provide valid proof of your claim.
Mail-in Submission:
- Obtain Claim Form: Download the claim form from the website or use the one received via notice.
- Fill out Form: Complete the form with accurate information.
- Send Form: Mail the filled-out form to the following address:
Cash App Security Settlement Administrator1650 Arch StreetSuite 2210Philadelphia, PA 19103
Submitting the claim form by the deadline ensures that class members can benefit from the settlement. Proper documentation is crucial to substantiate your claim and secure the compensation you qualify for. The final payout distribution will take place after the court’s approval.
Conclusion
The defendants have reached a $15 million settlement to resolve the claims against them while maintaining their innocence. To receive compensation, claimants must submit their forms by November 18, 2024. Important dates to remember include the Claim Form Deadline on November 18, 2024, the deadline to object to or exclude oneself from the settlement on November 1, 2024, and the Final Hearing, which is set for December 16, 2024.
It’s crucial to mark these dates on your calendar to ensure you don’t miss the opportunity for compensation. The Final Hearing will be held on December 16, 2024, at 9:30 AM PST, and during this hearing, the court will decide whether to approve the settlement. The deadlines for submitting objections or exclusions are strictly enforced to ensure the settlement process moves smoothly.
Missing any of these deadlines could result in losing your right to compensation or the ability to object to the proceedings. Hence, you should act promptly and adhere to the stipulated timelines to secure your interests in this case.
