A $15 million settlement amount is decided to pay for CashApp Class Action filed against them. The plaintiffs claimed that Cash App Investing was careless in not protecting user data, which allowed for illegal access and transactions. To evade the risks and costs of a lawsuit, the firms took the deal even though they refused any misconduct.
In addition to other compensation for lost time and transaction losses qualified customers who have gone through fraudulent transactions between August 23rd, 2018, and August 20th, 2024, or weren’t satisfied with the way their complaints were handled, could receive up to $2,500 in out-of-pocket losses. The last date to submit the claims was on Nov 18th, 2024. Continue reading this post to get applicable info on the CashApp Class Action Lawsuit.
Cash App Class Action Payment Date
A class-action settlement regarding security flaws in the mobile payment app Cash App may provide up to $2,500 to users who have transferred money using the app during the last six years. Through the app, users may transfer and receive money, purchase Bitcoin, invest in stocks, and pay specific suppliers.
Cash App users filed a class-action lawsuit in Feb, alleging that Cash App Investing and its owner, Block, failed to respond appropriately to two data breaches. In 2022, a former employee of Cash App Investing gained unauthorized access to account data, and in 2023, an unofficial user operated phone numbers related to the accounts to get access to specific accounts. Additionally, it charges Block and Cash App Investing with neglecting to put in place appropriate security measures and failing to address worries about fraudulent transactions occurring on the app.
Overview of Cash App Class Action
| Article On | Cash App Class Action Payment Date: |
| Country | United States of America |
| Year | 2024 |
| CashApp Settlement Amount | USD 15 Million |
| Beneficiaries | Those who used Cash App or Cash App Investing Services in the period of Aug 23rd, 2018 and Aug 20th, 2024 |
| Maximum Claim Amount | Up to $2,500 |
| Category | Finance |
| Official Website | cashappsecuritysettlement.com |
What is the Cash App Settlement Eligibility?
According to the settlement website, the beneficiaries who have faced financial difficulties can apply for the CashApp Settlement before 18th November 2024. Here are the requirements:
- If you are a current or past customer of Cash App or Cash App Investing and your details for those were acquired without your consent.
- The beneficiary has faced fraud withdrawals & money transfers from their account.
- You failed to fix an issue with a Cash App account or any associated financial account.
How Much Amount Can You Get in the Cash App Settlement?
As per the settlement website, you could get up to $2,500 for out-of-pocket losses incurred over the specified period if the settlement and payments are accepted. To connect it to a deficiency in error resolution, unauthorized account, or data security incident with your account, you will have to provide your third-party documentation.
Additionally, you can file a claim to get paid for missed time, which is limited to $25 per hour for three hours in this instance, for a total of $75, as well as for recorded transaction losses brought on by an unauthorized account event. Copies of a notice of an unofficial account, a police record pertaining to an illegal account, or a document proving your account was accessed without your consent.
Cash App Settlement Payment Dates 2024
The final hearing was rescheduled for January 13, 2025, and some deadlines were extended by the Court’s ruling of November 7, 2024. You may expect to get payment in 9 to 12 months following the final hearing, as per the pattern of settlements.
Eligible class members must have filed a claim form before the deadline of November 18th, 2024, to be suitable for the settlement. Although paper forms were provided for those who chose the mail option for their entries, the claim process was simplified. Each claim category required the attachment of necessary supporting paperwork, such as police records, receipts, or correspondence attesting to the losses and the steps made to remedy them.
Cash App Settlement Claim Submission
A claim form must be submitted by November 18, 2024, if you qualify for a Cash App Settlement. In other words, you can send your claim with a postmark by that date or submit it online. List every detail about your claims on a single claim form if you have claims for several Cash App accounts. If you are sending it in via mail, then you need to send it to a specific address. You had until November 1, 2024, to protest to the settlement or to be excluded from it.
| Official Website | Click Here |
| Homepage | Philtranco.net |