Cash App $15M Data Security Settlement: Awards up to $2,500

If you are a current or former customer of Cash App and/or Cash App Investing, you may be eligible to claim up to $2,500 from a class action settlement.

Block, Inc. has agreed to pay $15,000,000 to settle a class action lawsuit for alleged negligence, misrepresentations, and breaches of obligations to their users in connection with data security incidents and unauthorized transactions.

Who Can Claim an Award?

To be eligible for the settlement, you must be a current or former customer of Cash App and/or Cash App Investing.

Your personal information, Cash App account, or Cash App Investing account must have been accessed or obtained without your authorization.

Additionally, you may qualify if you experienced unauthorized or fraudulent withdrawals or transfers of funds to or from, or a deficiency in the resolution of an error in a Cash App account or any linked financial account from August 23, 2018, through August 20, 2024.

Specifically, you qualify if:

• You were sent a notice by Defendants that your information may have been impacted in a Data Security Incident disclosed in April 2022 or September 2023.
• You experienced an Unauthorized Account Event resulting in financial losses between August 23, 2018, through July 18, 2024.
• You spent time or incurred costs due to Defendants' failure to properly resolve your claim of an unauthorized transaction in connection with your Cash App or Cash App Investing account.

What Awards Can Class Members Claim?

Class members can claim various types of awards based on their losses. These include reimbursement for out-of-pocket losses, lost time, and transaction losses.

Out-of-Pocket Losses: Class Members can claim up to $2,500 for out-of-pocket losses that are fairly traceable to a Data Security Incident, Unauthorized Account Event, or deficiency in error resolution. These losses may include costs associated with credit monitoring, requesting a credit report, credit freezes, canceling or obtaining a payment card, closing or opening a bank account, miscellaneous expenses such as postage fees, long-distance phone charges, express mail, unrefunded overdraft and/or overdraft protection fees, and unrefunded late and/or missed payment fees and/or charges.

Lost Time: Class Members can claim reimbursement for up to three hours of lost time at a rate of $25 per hour for time spent in response to a Data Security Incident, Unauthorized Account Event, or deficiency in error resolution.

Transaction Losses: Class Members can claim reimbursement for documented transaction losses arising from an Unauthorized Account Event that occurred between August 23, 2018, through August 20, 2024. Documentation required includes a notification to Defendants, a police report, or other documentation demonstrating the occurrence of an Unauthorized Account Event.

If there is not enough money in the Net Settlement Amount to pay every approved claim in full, then the payments to be made will be reduced pro rata based on each Settlement Class Member’s share of the total amount claimed. For example, if the Net Settlement Amount is $10,000,000 and the total approved claims amount to $20,000,000, each claim would be paid at 50% of the claimed amount.

Is Proof Required to Claim the Reward?

Yes, claimants need to provide proof to claim an award. The required proof includes:

• Documentation of out-of-pocket losses, such as receipts or other documentation.
• Documentation of lost time, detailing the actions that resulted in lost time.
• Documentation for transaction losses, such as a notification to Defendants, a police report, or other proof of an Unauthorized Account Event.

How to Claim Your Award

To claim your award, you must submit a completed claim form by November 18, 2024. You can file a claim online by visiting the online claim form. Alternatively, you can mail your completed claim form to:

Cash App Security Settlement Administrator

1650 Arch Street, Suite 2210

Philadelphia, PA 19103

Submitting a Claim

Follow these steps to submit a claim:

1. Visit the online claim form or download a paper claim form.
2. Fill out the required information, including your contact details and Unique $Cashtag Identifier(s).
3. Provide documentation for out-of-pocket losses, lost time, and transaction losses.
4. Select your preferred payment method: virtual prepaid card, Venmo, Zelle, or physical check.
5. Sign and date the claim form.
6. Submit the form online or mail it to the address provided above by November 18, 2024.

How do I Get Paid?

Class members can choose to receive their settlement payment via:

• virtual prepaid card
• Venmo
• Zelle
• physical check.

Settlement Fund Breakdown

The settlement amount is $15,000,000. This fund will cover attorneys' fees and costs, a service payment for the class representatives, and settlement administration costs. The remaining amount, known as the Net Settlement Amount, will be used to pay valid claims submitted by class members.

The breakdown is as follows:

• Settlement Fund: $15,000,000
• Attorneys' Fees and Costs: Up to 25% of the settlement value
• Service Payment for Class Representatives: Up to $2,500 each
• Settlement Administration Costs: Deducted from the Settlement Fund
• Net Settlement Amount: Remaining funds after deductions

Important Dates

• Deadline to File a Claim: November 18, 2024
• Exclusion Deadline: November 1, 2024
• Final Approval Hearing: December 16, 2024

When is the Cash App Payout?

Awards will be paid after the final approval hearing and once all claims have been processed.

Why is There a Class Action Settlement?

The class action settlement resolves allegations that Block, Inc. and Cash App Investing were negligent, made misrepresentations, and breached obligations to their users in connection with data security incidents and unauthorized transactions that occurred between August 23, 2018, and August 20, 2024.

What Happens Next?

The next steps include the final approval hearing on December 16, 2024, where the court will determine the fairness of the settlement. If approved, the settlement funds will be distributed to valid claimants.