The Cash App users might be eligible for the settlement benefits under the Cash App $15 million class action settlement; the users can now submit the claim.
Cash App Settlement Lawsuit
The Cash App class action lawsuit began when the plaintiffs filed two complaints against Cash App and its parent company Block Inc. claiming the data and security branches at the mobile payment service due to their negligence, which was later replaced with a single class action complaint.
The lawsuit is based on the 2021 incident disclosed in 2022, where the former Cash App investing employees accessed the user’s account data without their consent. The lawsuit also showcases an unauthorized account event, where some unauthorized users accessed certain users’ accounts via phone numbers linked to the users’ accounts.
The plaintiff alleged that Cash App Investing and Block failed to resolve customers’ complaints of fraudulent transactions and protect the customer’s data from such data breaches. Now, Cash App and Block have proposed to settle the class action lawsuit with a $15 million settlement.
The plaintiffs have agreed to the $15 million class action settlement and the class members can submit their claims before 18 November 2024 to receive the compensation amount. However, the class action settlement does not admit the wrongdoings of Cash App and Block Inc. Important Dates of the Cash App class action settlement:
| Cash App Class Action | Dates |
| Claim Deadline | 18 November 2024 |
| Exclude Yourself from the claim | 1 November 2024 |
| Object the settlement | 1 November 2024 |
What makes you eligible for the Cash App Settlement claim?
The Cash App former and current user who meet the following eligibility requirements must have received the settlement notice, they can submit their Cash App Settlement Claim:
- If you are a current or former Cash App user or any of its affiliates, subsidiaries, or parents, and your account is breached, your personal information is accessed without your permission, or fraudulent withdrawals or transfer of funds has occurred.
- You have a Cash App or any linked financial account and face the above issues from 23 August 2018 to 20 August 2024.
How much will you receive through the Cash App Settlement?
As mentioned earlier, the Cash App and Block proposed the $15 million settlement for the class action lawsuit. The defendant will deposit the settlement fund in cash to the Settlement Administrator, the administrator will be responsible for the distribution of the Cash App class action settlement fund.
The class members who submit the valid claim before 18 November 2024 will receive the settlement payout from the net settlement fund. The Net settlement fund is the fund that comes after the settlement administrator dedicates the settlement expenses and attorney fees from the settlement fund.
The class representatives’ service awards, attorney fees & cost, and settlement administrator cost will be minus first to determine the net settlement fund. The Cash App claimants with valid and approved claims will receive the following settlement benefits:
- Out-of-Pocket losses: The valid claimants will receive reimbursement of up to $25,00 for the out-of-pocket expenses or losses that occurred between 23 August 2018 and 20 August 2024. The out-of-pocket losses should be supported by third-party documents to trace unauthorized access to the account, the data breach incident, or the failure of error resolution with the Cash App Investing/Cash App account during the class period.
- Lost time payment: The claimants can receive the payment for the lost time spent in response to the Unauthorized account access, data security incident, or failure in error solution in connection with Cash App Investing or Cash App. The valid and approved claimants can receive lost time payments for up to three hours with a payment rate of $25 per hour.
- Transaction Loses: The Cash App’s current and former users who have faced any transaction losses due to data security or unauthorized access may get reimbursement for their transaction loss.
Documents needed to prove Transaction losses
The class member of the Cash App class action settlement claiming the transaction losses that have not been reimbursed during the class period has to submit any of the following documents to submit a valid claim:
- Documents that showed you have notified the defendants about the transaction loss occurred during the class period, or
- A police report copy concerning the unauthorized account access resulted in a transaction loss during the class period, or
- Documentation that the Settlement administrator is sufficient to determine or demonstrate the unauthorized account event during the class period, or
- Federal Trade Commission report or complaint against the unauthorized Cash app account event, or
- Consumer Financial Protection Bureau complaint or report concerning the Cash App unauthorized account event during the class period, or
- Better Business Bureau complaint or report concerning the Cash App unauthorized account event during the class period.
How to claim the Cash App Settlement?
The current and former Cash App/ Cash App investing users who have faced the data breach and unauthorized access during the class period can submit the claim through the following ways:
- Online: The eligible class members can visit the Cash App Class action settlement website at https://cashappsecuritysettlement.com/home and submit their claim form online with mandatory documents through their Notice ID and confirmation code they have received via the settlement notice.
- By Post: The Cash app users who wish to submit the claim can download the claim form from the official website or may have received the claim form with their settlement notice. You must fill out the claim form with the valid details and mail the form with mandatory documents to the following address:
- Cash App Security Settlement Administrator
- 1650 Arch Street, Suite 2210
- Philadelphia, PA 19103
The Cash App users who wish to receive the Cash App Class action settlement payout for the data breach and unauthorized access during the class period must submit the claim form before the deadline, 18 November 2024.
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