AMERICANS have weeks left to claim their share of $2,500 payments.
Eligible Cash App users may file a claim for their portion of a $15 million data breach settlement.
But time is running out as the deadline to submit a claim is on November 18, 2024.
To score the $2,500 checks, you must have had an account and have had your personal information stolen without consent.
Or you must have experienced fraudulent withdrawals or transfers between August 23, 2018, and August 20, 2024.
In addition to submitting a claim form, users must have proof.
This includes: receipts, bills, invoices, account statements, credit reports, financial documents, police reports or other documentation.
WHAT HAPPENED?
Cash App is a platform allowing its users to transfer money, pay vendors, and invest – similar to Venmo.
The lawsuit claims that Cash App and its parent company Block, formally known as Square, did not protect its users from two data breaches in 2022 and 2023.
The first data breach reportedly involved an employee’s unauthorized access to Cash App Investing accounts.
Meanwhile, the second breach involved a third party’s unauthorized access using recycled phone numbers.
While Cash App has not admitted to any wrongdoing, they have agreed to pay $15 million to resolve the lawsuit.
WHAT DO I GET?
Those eligible may receive up to $2,500 for any documented losses related to the data breaches.
This includes credit costs, bank fees, travel expenses and up to three hours of lost time compensated at a rate of $25 per hour.
Plus, anyone who experienced fraudulent transactions as a result of the breaches may get additional compensation if specific documentation is given.
What’s a class-action settlement?
Class action lawsuits offer groups of people, or ‘classes,’ a way to band together in court.
These suits are often brought by one or a few people who allege a company or other entity has wronged a large group of people.
When a suit becomes a class action, it extends to all “class members,” or people who may have similar complaints to those who filed the suit.
Companies often settle class actions – offering payment to class members who typically waive their right to pursue further legal action by accepting money.
These payout agreements frequently include statements by the defendant denying wrongdoing. Companies tend to settle class actions to avoid the costs of further litigation.
Pollution, discrimination, or false advertising are a few examples of what can land a class action on a company’s doorstep.
IMPORTANT DATES
The lawsuit’s website also laid out specific reminders:
- Exclusion Deadline – November 1, 2024
- Objection Deadline – November 1, 2024
- Claim Deadline – November 18, 2024
- Final Approval Hearing – December 16, 2024 at 9:30 am PST
