The Cash App settlement class action is a significant legal event that has impacted thousands of users. This lawsuit arose due to data security concerns and unauthorized account access, leading to financial losses for many individuals. The settlement aims to compensate affected users, offering financial relief for documented losses.
This article provides a complete guide on the Cash App settlement class action, including eligibility, compensation details, deadlines, and how to file a claim.
What is the Cash App Settlement Class Action?
A class action lawsuit was filed against Block Inc., the parent company of Cash App, after reports of data breaches and unauthorized access to user accounts. The lawsuit claimed that insufficient security measures led to financial losses for users, including fraudulent transactions and identity theft risks.
To resolve the issue, Block Inc. agreed to a $15 million settlement, allowing eligible users to claim compensation for their losses.
Who is Eligible for Compensation?
To qualify for compensation from the Cash App settlement class action, users must meet the following criteria:
- Had an active Cash App account between August 23, 2018, and August 20, 2024.
- Experienced unauthorized access or fraudulent transactions on their Cash App account.
- Have proof of financial losses (e.g., bank statements, receipts, police reports).
If you meet these requirements, you may be eligible to receive compensation.
Compensation Details
The settlement covers different types of financial losses, including:
1. Out-of-Pocket Losses
Users can receive up to $2,500 for documented expenses, such as:
- Bank fees
- Identity theft protection costs
- Unauthorized withdrawals
2. Lost Time Compensation
Users who spent time addressing fraudulent activities can claim $25 per hour, up to a maximum of 3 hours.
3. Reimbursement for Unauthorized Transactions
If users lost money due to fraudulent transactions, they can be reimbursed upon providing valid documentation.
How to File a Claim
Affected users can file a claim through the official settlement website before the deadline. Follow these steps:
- Visit the official Cash App settlement website.
- Fill out the claim form with your details.
- Upload necessary documents as proof of losses.
- Submit your claim before November 18, 2024.
After submission, claims will be reviewed, and approved users will receive compensation through direct deposit or paper check.
Important Deadlines
- Claim Submission Deadline: November 18, 2024
- Final Settlement Approval Hearing: December 16, 2024
- Expected Payout Date: Within 90-180 days after approval
The Cash App settlement class action provides an opportunity for affected users to recover financial losses due to data security breaches. If you believe you qualify, submit your claim before the deadline to ensure you receive your rightful compensation.
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