If you used Cash App’s mobile payment services between August 23, 2018, and August 20, 2024, you may qualify for compensation from a proposed $15 million class action settlement. The lawsuit claims that Cash App and its parent company, Block, Inc., did not adequately protect user data, leading to unauthorized access and possible financial losses. Below are the key details on eligibility, potential payouts, and how to file a claim.
Summary of the Cash App Class Action Settlement
| Aspect | Details |
|---|---|
| Total Settlement Amount | $15 million |
| Maximum Individual Payout | Up to $2,500 for financial losses, $25 per hour for lost time (maximum of 3 hours) |
| Claim Submission Deadline | April 18, 2024 |
| Eligible Claimants | Users who faced unauthorized account access, fund transfers, or data breaches between August 23, 2018, and August 20, 2024 |
| Final Approval Hearing Date | January 13, 2025 |
| Settlement Administrator Contact | Available on the official settlement website |
Background of the Settlement
A class action lawsuit was filed against Cash App and Block, Inc., claiming that their security measures were insufficient, leading to unauthorized access and fraudulent activities on users’ accounts. The lawsuit states that former employees and other unauthorized individuals accessed customer data without permission, leading to significant financial and security concerns. Affected users may now qualify for compensation under the settlement agreement.
Compensation Breakdown
Eligible users may receive different compensation amounts based on the severity of their claims:
- Reimbursement for Financial Losses: Users who suffered monetary loss due to unauthorized transactions may claim up to $2,500.
- Compensation for Lost Time: If you spent time resolving issues related to security breaches, you may receive $25 per hour for up to three hours.
- Required Documentation: To receive compensation, claimants must provide relevant documentation, such as bank statements, transaction records, or other proof of financial loss.
Key Deadlines and Important Dates
It’s crucial to adhere to the following deadlines to ensure you receive compensation:
- Claim Submission Deadline: All claims must be submitted online or via mail by November 18, 2024.
- Final Approval Hearing: A court hearing on January 13, 2025, will determine the final approval of the settlement. If approved, payments will be disbursed shortly thereafter.
Eligibility Criteria
To qualify for compensation, users must meet at least one of the following conditions:
- Unauthorized Access: Your Cash App account data was accessed without your consent between August 23, 2018, and August 20, 2024.
- Unauthorized Transactions: You experienced unauthorized withdrawals or fund transfers from your Cash App account.
- Account Security Issues: You encountered unresolved errors or security failures linked to your Cash App account that resulted in financial loss or data exposure.
Purpose and Goals of the Settlement
The primary aim of this settlement is to provide affected users with financial relief and to enforce stronger security measures to prevent future data breaches and unauthorized access. This agreement allows both parties to avoid the uncertainties and costs of prolonged litigation while ensuring fair compensation for impacted Cash App users.
Steps to File a Claim
If you believe you are eligible, follow these steps to submit your claim:
- Verify Your Eligibility: Review the criteria carefully to confirm you qualify for a claim.
- Gather Supporting Documents: Collect bank statements, receipts, or transaction records to support your claim.
- Complete the Claim Form: Access the official settlement website and accurately fill out the claim form.
- Submit Your Claim: Ensure your claim form and all supporting documents are submitted by November 18, 2024.
Additional Support and Information
For any queries regarding the settlement, you can contact the official settlement administrator through the details provided on the official website. Ensure your contact details remain updated to receive settlement-related notifications and payments.
Frequently Asked Questions (FAQ)
1. Is this settlement legitimate?
Yes, the settlement has been officially approved and is being administered by a court-appointed third party.
2. How is my compensation amount determined?
Your payout is based on factors such as financial losses, time spent resolving issues, and whether you previously reported the problem to Cash App.
3. What is the last date to file a claim?
The final deadline for submitting a claim is November 18, 2024.
4. When will payments be issued?
If the court approves the settlement on January 13, 2025, payments will be processed soon after.
5. How can I check my claim status?
You can verify the status of your claim by reaching out to the settlement administrator via the official website.
By following these steps, eligible Cash App users can seek compensation for any unauthorized access, transactions, or security-related issues they experienced within the covered period.
Click here to know more.
Akesh is a furniture expert with years of experience in design and craftsmanship. Specializing in sustainable materials, he shares his expertise to help people create stylish and functional living spaces.