Finance

Cash App $15 Million Legal Settlement 2024, If you are a Customers, claim up to $2500

Cash App and Block Inc. have agreed to a $15 million legal settlement following a class-action lawsuit related to data breaches. Users affected between August 23, 2018, and August 20, 2024, can claim up to $2,500 for losses. The deadline for filing a claim is November 18, 2024.

By Anjali Tamta
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Cash App $15 Million Legal Settlement 2024
Cash App $15 Million Legal Settlement 2024

In 2024, Cash App, a widely used mobile payment service, and its parent company, Block Inc., reached a $15 million settlement to address a class-action lawsuit. The lawsuit emerged after the platform experienced significant data security breaches, which compromised the personal information of millions of users. Customers affected by these breaches can now file claims and receive compensation, with some eligible to claim up to $2,500. This guide explains everything you need to know about the settlement, who qualifies for compensation, and how to file a claim.

Cash App $15 Million Legal Settlement 2024

If you’ve been affected by unauthorized transactions, security breaches, or inadequate error resolutions on Cash App between August 23, 2018, and August 20, 2024, you may be eligible for compensation through this $15 million legal settlement. With a simple claims process and potential reimbursement of up to $2,500, this settlement provides an opportunity to recover losses and safeguard your financial interests. However, it’s important to act promptly, as the deadline to file a claim is approaching.

CategoryDetails
Settlement Amount$15 million
Maximum CompensationUp to $2,500 per user for out-of-pocket expenses, $25/hour for lost time (up to 3 hours)
Eligibility PeriodTransactions or security breaches between August 23, 2018, and August 20, 2024
Claim DeadlineNovember 18, 2024
Exclusion/Objection DeadlineNovember 1, 2024
Website for Claim SubmissionCashAppSecuritySettlement.com
Documentation RequiredProof of losses such as unauthorized transactions, fraudulent withdrawals, or poor resolution practices
Next StepsThe final court approval hearing is scheduled for December 16, 2024

Understanding the Settlement

The $15 million settlement addresses claims from users impacted by security breaches in 2022 and 2023. One of the most prominent breaches occurred in 2022 when a former Cash App employee accessed sensitive data without permission. Additionally, in 2023, recycled phone numbers linked to Cash App accounts were exploited by unauthorized users, further exacerbating the platform’s security concerns. Both events led to the exposure of the personal information of approximately 8.2 million users.

Although Cash App and Block Inc. denied any wrongdoing, they agreed to settle the lawsuit by compensating affected users to resolve the claims.

Who is Eligible?

If you used Cash App or its investment platform, Cash App Investing, between August 23, 2018, and August 20, 2024, and experienced one or more of the following issues, you may be eligible to receive compensation:

  • Unauthorized access to your Cash App or Cash App Investing account.
  • Fraudulent transactions or withdrawals from your account.
  • Inadequate resolution from Cash App regarding an error or security breach.
  • Compromise of personal information due to Cash App security failures.

You only need to submit one claim per person, even if you have multiple Cash App accounts. Be prepared to list all of your Cash App account names, known as $Cashtags, when completing your claim form.

How to File a Claim for Cash App $15 Million Legal Settlement 2024

Filing a claim is relatively simple, and there are two main options: online or by mail.

  • Online Submission: Visit CashAppSecuritySettlement.com to submit your claim. This is the fastest and most convenient option, especially if you received a notice from the Cash App with a unique notice ID and confirmation code.
  • Mail Submission: If you prefer, you can also download and print the claim form from the settlement website, fill it out, and mail it to the address provided on the form. Alternatively, you can call the settlement administrator at 1-866-615-9740 to request a claim form be mailed to you.

The deadline to submit your claim is November 18, 2024.

Compensation Breakdown

Depending on the nature of your losses, you could be eligible to claim up to $2,500. There are three categories of compensation:

  1. Out-of-pocket losses: This includes expenses related to credit monitoring, identity theft protection, replacing credit cards, opening or closing bank accounts, and other related costs. You’ll need to provide documentation, such as receipts or correspondence with financial institutions, to prove these expenses.
  2. Lost time: If you spent time resolving issues caused by the breach, you can claim $25 per hour, for up to three hours. Make sure to provide a timeline and an explanation of how this time was used.
  3. Unauthorized transactions: If you experience fraudulent or unauthorized transactions, you can claim reimbursement for those financial losses. Documented evidence, such as bank statements or police reports, will be required to verify your claim.

What Happens Next?

A final approval hearing for the settlement is scheduled for December 16, 2024, in the U.S. District Court for the Northern District of California. If you file a claim and it is approved, you can expect to receive your compensation after this date, though the exact timing will depend on how many people submit valid claims and the court’s final ruling.

Frequently Asked Questions (FAQs)

Q: How much can I receive from the settlement?
You can receive up to $2,500 for documented out-of-pocket losses, and you may also claim $25 per hour for lost time, up to three hours.

Q: Do I need proof to file a claim?
Yes, you’ll need to provide documentation for any out-of-pocket expenses or transaction losses. This can include receipts, correspondence with financial institutions, or official reports.

Q: What is the deadline to file a claim?
You must file your claim by November 18, 2024. If you wish to exclude yourself from the settlement or object to it, the deadline is November 1, 2024.

Q: How can I file a claim?
Claims can be filed online at CashAppSecuritySettlement.com or by mail. Download the form from the website or call 1-866-615-9740 for assistance.

Q: What if I do nothing?
If you don’t file a claim or opt out of the settlement, you’ll lose the chance to receive compensation and won’t be able to pursue any further legal action related to this case.

Author
Anjali Tamta
Hey there! I'm Anjali Tamta, hailing from the beautiful city of Dehradun. Writing and sharing knowledge are my passions. Through my contributions, I aim to provide valuable insights and information to our audience. Stay tuned as I continue to bring my expertise to our platform, enriching our content with my love for writing and sharing knowledge. I invite you to delve deeper into my articles. Follow me on Instagram for more insights and updates. Looking forward to sharing more with you!

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