The deadline to file a claim for the Cash App class action settlement has passed, with claim submission ending on November 18th, 2024. If you missed it, you may still have questions about what you can do next. Unfortunately, only those who submitted a claim by the deadline are eligible for the $15 million settlement amount. Claims could have been submitted for data breaches, security breaches, and losses including lost time, out-of-pocket losses, and transaction losses.
For those who filed on time, qualifying claims could include compensation for up to 3 hours of lost time at a rate of $25/hour, or $2,500 for out-of-pocket damages. Victims of illegal withdrawals and other transaction losses could also have filed claims.
While the settlement is now closed, it’s important to keep an eye on any updates or additional actions that might be taken. You can always check for an overview of the Cash App class action settlement online.
“Time is money. Make sure you protect both.”
Missed the Cash App Class Action Settlement Deadline?
If you missed the Cash App class action settlement deadline, you might still be wondering about your options. The security breach affected around 8.2 million users, including those from Cash App Investing.
The breach, which occurred in December 2021, led to unauthorized transfers and withdrawals of funds from accounts between August 23rd, 2018, and August 20th, 2024. Users affected by the breach could have received compensation up to $2500, depending on the nature of their claim.
Although the settlement agreement hasn’t been fully finalized, claims were being assessed and payment amounts would have been divided proportionately if there were insufficient funds to pay all claims.
A court order on November 7th, 2024 extended some deadlines, and the final hearing is scheduled for January 13th, 2025. If you were impacted, you might still be eligible for compensation for wasted time or if your accounts were accessed and money taken. However, time is running out, so check the details quickly.
“In the digital age, security is not a choice. It’s a necessity.”
Cash App Class Action Settlement- Overview
Article on Cash App Class Action Settlement Deadline
Country: United States, Year: 2025, Beneficiaries affected
Beneficiaries: Individuals with exposed private info, 2021
Settlement Amount: $15 million for affected individuals
Potential Payouts: Up to $2500, based on losses
Final Hearing: January 13th, 2025, court decision pending
Category: Finance, focused on data breach compensation
Official Website: cashappsecuritysettlement.com for detailed information
What is Cash App Class Action Settlement?
The Cash App settlement for $15 million addresses serious security faults that arose due to two major data breaches—one in 2021 and another in 2023. These incidents involved fraud and the mistreatment of private info, including bank details and SSNs. The company was accused of careless management of its security and failures to properly secure data, which led to unauthorized access to customer account data by hackers. In 2022, a former employee unlawfully obtained users’ private information, and later, hackers exploited this information for illegal purposes.
The lawsuit against Cash App and its parent company, Block Inc., resulted from these breaches and other allegations of negligence. This settlement ensures that the company will pay the settlement amount to those affected by the breaches. Individuals impacted by misusing personal info can receive compensation, but it highlights the need for businesses to take breaches and security concerns seriously moving forward.
Cash App Claim Types
If you’re a Cash App user who qualified for the class action, there were three main types of claims you could have filed:
1. Losses Outside of the Pocket
If you could demonstrate that the breach compromised your account, you might have been eligible for up to $2,500. This claim was for actual financial loss that hadn’t been compensated.
2. Lost Time
Another type of claim allowed users to be paid for lost time spent fixing problems caused by the hack. Users could submit claims for up to 3 hours of lost period, with a rate of USD 25/hour, totalling $75.
3. Losses from Transactions
If you were involved in fraudulent or unlawful transactions, and hadn’t received reimbursement, you could have filed a claim for transaction-related losses.
Unfortunately, missing the settlement deadline means missing out on these potential compensations.
Eligibility for Cash App Settlement
If you were impacted by the breach and can demonstrate that you lost money, you might have been eligible for reimbursement under the Cash App class action. The first requirement for eligibility was your status as a customer of Cash App, Cash App Investing, or any related business. Your account could also be eligible if it was obtained without your consent, which might have led to unauthorized withdrawals or transfers of funds.
Additionally, if there was a deficit due to a mistake in your account or any connected financial account between Aug 23, 2018, and Aug 20, 2024, you may have been suitable for the $15 Million Cash App Settlement. Missing this deadline could mean losing out on your chance to be compensated for these issues.
What If You Missed the Cash App Settlement Claim Deadline?
If you missed the deadline to file your claim for the Cash App class action, there are still options available to get help. You can contact the plaintiffs’ legal firm to learn more about any updates or possible next steps. Reach out to Kantrowitz, Goldhamer & Graifman by calling 201-897-7293 or visiting their website at kgglaw.com.
Tracking Your Cash App Account
It’s important to track your Cash App account regularly to spot any signs of fraudulent or illegal activity. Keep an eye out for unauthorized withdrawals, transfers, or any unusual account changes. If you see anything suspicious, contact Cash App customer service immediately to report the issue and take action.
Seeking Legal Counsel
In cases where significant losses have occurred, seeking legal counsel or consulting a lawyer could be beneficial. A professional can help you explore your recovery options and guide you through the process if you believe you have been unfairly affected and missed out on the settlement.
What to Do Next: Legal and Monitoring Steps
Even if you missed the settlement deadline, there are still proactive steps you can take. First, keep monitoring your Cash App account for any suspicious activity, such as unauthorized withdrawals or transactions. If you notice anything unusual, report it to Cash App’s customer service team immediately. Additionally, you can seek legal counsel to explore potential avenues for compensation. A lawyer can assist in evaluating your situation and help you understand your rights, especially if significant financial losses occurred as a result of the breach. Keep an eye on the official website for any updates related to the case.
Frequently Asked Question
What is the Cash App class action settlement about?
The settlement is related to data breaches in 2021 and 2023, where private information of users was exposed. The breaches involved unauthorized access to personal data like bank details and SSNs.
When was the deadline for filing a claim?
The deadline for filing claims was November 18th, 2024. Claims submitted after this date are no longer eligible for compensation.
Who was eligible for the Cash App settlement?
Eligibility was for users who experienced unauthorized withdrawals, lost time, or other financial damages due to the data breaches between August 2018 and August 2024.
How much compensation could I have received?
Compensation amounts ranged from $25 per hour for up to 3 hours of lost time to $2,500 for out-of-pocket losses due to unauthorized transactions.
Can I still receive compensation if I missed the deadline?
Unfortunately, if you missed the deadline, you are no longer eligible for compensation under this class action settlement. However, keep monitoring for any updates or potential actions.
What steps should I take if I missed the settlement deadline?
You can contact the plaintiffs’ legal firm, Kantrowitz, Goldhamer & Graifman, for updates or next steps. You can also monitor your Cash App account for any suspicious activity and report it.
How can I monitor my Cash App account for fraud?
Regularly check your account for unauthorized withdrawals, transfers, or any unusual activity. If anything seems suspicious, report it to Cash App’s customer service immediately.
Can I seek legal counsel if I missed the deadline?
Yes, seeking legal counsel is an option. A lawyer can help you evaluate your situation and explore potential recovery options, especially if you’ve suffered significant financial losses.
What were the types of claims eligible for compensation?
Eligible claims included losses from fraudulent transactions, up to 3 hours of lost time at a rate of $25/hour, and out-of-pocket financial losses up to $2,500.
Will there be any further updates on the Cash App settlement?
Yes, there may be future updates or legal actions. Keep an eye on the official website, cashappsecuritysettlement.com, for any developments regarding the case.
Conclusion
In conclusion, while the deadline for filing claims in the Cash App class action settlement has passed, it’s essential for affected users to stay vigilant. Although missing the settlement cutoff means ineligibility for compensation, there are still ways to monitor your Cash App account for fraudulent activity, report suspicious actions, and seek legal counsel if necessary. The breach affected millions of users, and it’s important to continue tracking any potential updates or future opportunities for compensation. By staying informed, you can ensure you’re taking the necessary steps to protect your financial interests.
