Cash App Settlement Deadline: Compensation Awaits Eligible Users

The Cash App $15 million class-action settlement has brought significant attention to issues of data security and user protection. If you’ve used Cash App or Cash App Investing since 2018 and have experienced unauthorized access or fraudulent transactions, you might be eligible for a portion of the settlement, with potential payouts reaching up to $2,500. However, the deadline for filing a claim is fast approaching, ending on November 18, 2024, at 10:59 p.m. PT.

Background of the Cash App Settlement

Litigation and Key Causes

The lawsuit against Cash App and its parent company, Block Inc., arose from accusations of negligence related to multiple security breaches:

• Unauthorized Data Access: A former employee accessed user data without permission, affecting approximately 8.2 million users.
• Recycled Phone Numbers: Accounts were reportedly breached using recycled phone numbers linked to Cash App accounts.
• Fraudulent Transactions: The company was accused of failing to resolve complaints about unauthorized transactions effectively.

These breaches prompted legal action, resulting in the current settlement to compensate affected users.

Eligibility for Settlement Compensation

To qualify for a share of the settlement, you must meet the following criteria:

1. Cash App Usage: You are a current or former user of Cash App or Cash App Investing.
2. Unauthorized Activity: Your account was accessed or used without consent, leading to fraudulent withdrawals or transfers.
3. Timeframe: The incident occurred between August 23, 2018, and August 20, 2024.

Filing a Claim

Steps to Submit Your Claim

1. Notice ID and Confirmation Code: Use the information provided in the notice (via mail or email) to file your claim on the settlement website.
2. No Notice? No Problem: If you didn’t receive a notice but believe you qualify, you can still complete an online claim form.

Documentation Requirements

To support your claim, you must submit third-party documentation linking your financial loss to:

• A data breach or unauthorized account event.
• A deficiency in error resolution related to your Cash App account.

Acceptable documents may include:

• Notification of unauthorized account access.
• Police reports related to the incident.
• Proof of account access or compromised user details.

Settlement Payments

Compensation Details

Eligible claimants may receive:

1. Out-of-Pocket Losses: Up to $2,500 for documented losses.
2. Compensation for Lost Time: $25 per hour for up to three hours, capped at $75.

Payments depend on the strength of documentation and the nature of losses incurred.

Deadline to Act

The deadline to file a claim or opt out of the settlement is November 18, 2024, at 10:59 p.m. PT. Missing this deadline will forfeit your opportunity to receive compensation.

Broader Implications of the Settlement

This settlement highlights the critical importance of robust data security measures and the rights of consumers to compensation when breaches occur. Key takeaways include:

• Enhanced Security Standards: Companies must prioritize safeguarding user data.
• Consumer Vigilance: Users should monitor accounts regularly and report discrepancies immediately.
• Corporate Accountability: Legal action reinforces the need for businesses to resolve errors and fraudulent claims transparently.

The Cash App settlement underscores the value of consumer rights and the necessity for corporations to take security breaches seriously. Eligible users are encouraged to act promptly to claim their share of the settlement, ensuring they are compensated for any losses resulting from these incidents.

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