CASH App is Paying $15 Million After Major Data Breach Settlement, and Many Customers Could Get a Cut.
The company settled after several customers filed a class-action lawsuit against it.
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Cash App is a popular online payment service with around 56 million users transacting.
Data breaches in 2022 and 2023 caused certain user information to be accessed without authorization.
The plaintiffs in the case alleged that the company was negligent in failing to adequately protect the data.
Cash App is owned by Block, formerly known as Square, which is also named in the lawsuit.
Although the company denied any wrongdoing, it settled – avoiding the costs of further litigation.
Americans can now receive payments of up to $2,500.
There are some eligibility requirements to be met.
WHO QUALIFIES?
Current and former customers may be eligible if their information is accessed.
If your Cash App account was accessed or obtained without authorization, or if you performed an unauthorized transaction to resolve a Cash App error, you may be eligible.
However, any incident must have occurred within a certain period of time.
This period is from August 23, 2018 to August 20, 2024.
With documentation, you can claim up to $2,500 in reimbursement for losses related to identity theft, credit tracking, and fees.
You may also be reimbursed for lost time related to the incident, up to $75.
Additionally, you may file a complaint with documentation for any losses arising directly from unauthorized account access.
The deadline to file a complaint is November 18, 2024.
More information is available at settlement website.
What is a class action settlement?
Class action lawsuits offer groups of people, or “classes,” a way to come together in court.
These lawsuits are often filed by one or a few people who allege that a company or other entity has harmed a large group of people.
When a lawsuit becomes a class action, it extends to all “class members,” or people who may have similar claims to those who filed the lawsuit.
Companies often settle class actions – offering payment to class members who typically waive their right to pursue legal action by accepting money.
These payment agreements often include statements from the defendant denying wrongdoing. Companies tend to settle class actions to avoid the costs of further litigation.
Pollution, discrimination or false advertising are some examples of what can lead to a class action lawsuit at a company’s door.
MORE SUITS
Data breaches often lead to class action lawsuits against companies.
Many lawsuits allege that companies are responsible for data breaches for failing to protect private information.
U-Haul is paying $5 million after being sued for failing to prevent a safety incident.
The settlement will benefit Californians who had their information breached.
A telecommunications company is paying $1.5 million for a breach.
A business logistics company is paying $4,500 to people affected by a data breach.
Nearly 3 billion people were affected by a recent data breach.
This story originally appeared on The-sun.com read the full story
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