If you’ve been using Cash App since 2018, there’s an essential upgrade you won’t want to miss. The deadline for submitting your claim as part of a $15 million class action settlement is quickly approaching. You could be entitled for up to $2,500, so act quickly—you only have approximately a week to file your claim.
In 2022, Block Inc., the parent firm of Cash App and Cash App Investing, faced significant allegations. The corporation is accused of negligence, alleging that a former employee acquired illegal access to account data, breaching its commitments to users.
According to a filing with the Securities and Exchange Commission, this breach prompted a large notification effort, with Block informing about 8.2 million current and former users of the security concern.
Block’s woes did not end there. In 2023, the lawsuit claimed Block was negligent once more. This time, a “unauthorized user” allegedly accessed specific Cash App accounts by using recycled phone numbers associated with those accounts.
Beyond the breaches, Block and Cash App Investing were accused of failing to take adequate precautions to protect user accounts following both events. They were criticised for failing to appropriately address customer complaints about illegal or fraudulent transactions.
As the time approaches, it is critical that eligible users submit their claims for a piece of the settlement. Stay informed and take the essential procedures to file your claim on time.
Amidst the continuing events with Block and Cash App Investing, it is vital to note a recent deal signed earlier this year. Despite denying any guilt or wrongdoing, they agreed to a significant $15 million payment.
Are You Eligible for the Settlement Cash App ?
If you have ever used Cash App or Cash App Investing, you might qualify for a portion of this settlement. Here’s how you can determine your eligibility:
- You are or were a user of Cash App and/or Cash App Investing.
- Your account was accessed without your permission.
- There were unauthorized or fraudulent withdrawals or transfers from your account between August 23, 2018, and August 20, 2024.
Important Deadline
To receive your part of the settlement (or to opt out), you must act by November 18, 2024, at 10:59 p.m. PT. This deadline is critical, as stated on the settlement page.
How to Proceed
If you received a notice by mail or email, enter your notice ID and confirmation code to proceed to the settlement website. However, if you did not receive a notice but believe you are qualified, do not fret. You can still participate by completing an online claim form.
If the settlement and payments are approved, you may be able to claim up to $2,500 in “out-of-pocket losses” incurred during the given period, as outlined on the settlement page.
To be eligible, you must produce third-party documentation attributing these losses to a “data security incident,” a “unauthorized account event,” or a “deficiency in error resolution” in your Cash App or Cash App Investing account.
Reimbursement for Lost Time
You can also file a claim to be reimbursed for lost time, which is set at $25 per hour for up to three hours, with a maximum of $75. To support your claim for documented transaction losses caused by a “unauthorized account event,” you must present at least one of the following:
- A copy of a notification regarding an unauthorized account event.
- A copy of a police report related to an unauthorized account event.
- A document proving that your account was accessed without your permission.
Documentation Requirements
Having the relevant documentation is critical for a successful claim. Be prepared to produce documentation that clearly links your financial loss to the security breach or unauthorized behavior.
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