The Cash App Securities settlement has received preliminary approval from the court, and the claim form is available under court authorization. Class members who wish to file a compensation claim can view the settlement details here.
Cash App Data Breach Settlement Claim
The plaintiffs filed two complaints against Block and Cash App Investments, which were later replaced by a class action lawsuit. The lawsuit claims that the defendants failed to protect customer information in the 2022 data security incident and the 2023 data security incident.
According to the notice, a former employee of Cash App accessed customer accounts without permission and later in 2023, a third party accessed cash payment accounts through recycled phone numbers. The plaintiff claims the defendants neglected and failed to resolve complaints from customers who reported fraudulent transactions.
The defendants deny any wrongdoing alleged in the lawsuit but agree to settle the case and resolve the lawsuit for $15 million. Class members who wish to receive compensation for their inconvenience can submit claims by the closing date, November 18, 2024, as the claim form has been issued by the Settlement Administrator.
Cash App Data Breach Settlement Claim Important Dates
Class members interested in the Cash App data breach settlement should mark the following important dates to exercise their rights in a timely manner:
| cash app settlement activity | Dates |
| Last date of claim form | 18 November 2024 |
| object or withdraw oneself from the agreement | 01 November 2024 |
| final hearing | 16 December 2024 |
Who Can Claim the Cash App Data Breach Settlement?
US persons who meet the following requirements will be class members of the Cash App data breach settlement and will be eligible to submit their claim form:
- If you are a former or current customer of CASH APP or Cash App Investments, or its subsidiaries, affiliates or parent, you are a Class Member.
- Your personal information, Cash App investment account, or Cash App account was accessed or obtained by a third party without your consent / You may have made an unauthorized fraudulent withdrawal or fund transfer, an error in the Cash App account or any financial account associated with Kask The error has been encountered in the app account between class period, 23 August 2018 to 20 August 2024.
Cash App data breach settlement amount
Under the Cash App data breach settlement, the $15 million settlement fund will be used to cover the following expenses before distributing settlement benefits:
- Attorney's fees and costs
- Class Representative Service Award
- settlement administration costs
After the Administrator deducts the above expenses from the Settlement Fund, Class Members with valid claims will receive compensation from the remaining net Settlement Fund. The settlement benefits for the Class Member are as follows:
- Compensation for Out-of-Pocket Losses: Class members who submit a valid claim for out-of-pocket losses may receive reimbursement of up to $25,00. Out-of-pocket losses are traceable data security incidents, errors in reconciliation regarding Cash App investments or Cash App accounts, or unauthorized account incidents during the Class Period. Out-of-pocket losses include the following:
- Costs associated with credit monitoring or identity theft insurance,
- The cost that class members incur in requesting credit reports,
- Costs that are incurred when canceling a payment card or requesting a replacement card
- Costs that are incurred when freezing credit
- Costs incurred when closing a bank account/or opening a new bank account
- Other expenses such as long distance phone charges, express mail, postage and other charges.
- Lost Time: Class Members will receive compensation for time spent dealing with the response to a data security incident or unauthorized account incident. According to the settlement, class members will receive $25 per hour for up to 3 hours spent dealing with the data breaches, bringing the maximum payout up to $75.
- Transaction Loss Compensation: Class members with valid claims who suffered any monetary loss due to the 2022 data breach are eligible for compensation for their losses during the Class Period. Compensation will be sanctioned with proper documents, such as police report, complaint of monetary loss to the defendants, etc. Payment of transaction losses will depend on money lost, and class members will receive compensation for losses that are not reimbursed by the defendant.
The payment distribution among the class members with valid claims will be distributed in the following manner, if by any chance there is some fund left in the Net Settlement Fund after the distribution, the Administrator will remit the remaining funds to the eligible class members through Pro . Rata.
How to Claim Cash App Data Breach Settlement?
Class members who meet the eligibility requirements and wish to claim compensation should submit their claim form in the following manner:
- Online: You can visit the official website of Cash App Data Security Settlement https://www.cashappsecuritysettlement.com/ and submit the form online using your Notice ID and the confirmation received through the settlement notice. Even if you have not received the notice, you can submit a claim if you have valid documents to prove your claim.
- Offline: If you cannot submit the claim online, you can download the claim form online or you may have received it through notice, you can fill the form with valid information and send it to the following address:
- Cash App Security Settlement Administrator
- 1650 Arch Street
- Suite 2210
- Philadelphia, PA 19103
Class members who wish to receive compensation for inconvenience caused by the data breach can submit a claim form. The payment will be distributed when the court approves the settlement at a final hearing scheduled for November 16 at 9:30 am PST.
Class members must submit claims by the deadline of November 18, 2024, along with proper documentation required to claim settlement benefits.