If you’ve maintained a Money App account for roughly six years, be aware that you might soon be eligible to claim hundreds of dollars due to a recently settled class-action lawsuit. The corporation had previously suggested a $15 million settlement in January following two separate safety incidents. When you are eligible to file a declaration, you have a limited timeframe to take action.
In December 2021, a significant data breach occurred due to the actions of a former employee who illegally accessed and downloaded records containing sensitive information about more than eight million customers, according to Money App. The documents also revealed clients’ full names, brokerage account numbers, as well as, in certain instances, the details of their investment portfolios, including holdings and values. Money App .
A consolidated class-action lawsuit alleges that Money App and its parent company, Block, failed to implement adequate safeguards to prevent another data breach from occurring. What are Money App’s person-to-person transaction fees for businesses? Unauthorized individuals gained access to certain Money App accounts in 2023 by exploiting recycled phone numbers. According to the complaint, Money App and its parent company, Block, failed to properly address the ensuing complaints and fraudulent transactions.
The mobile payment company Money App and blockchain firm Block have denied any allegations of wrongdoing in recent studies. The claimants’ lawyers argue that the proposed settlement does not equate to a formal admission of liability or culpability on the part of the defendant entity.
Are you entitled to file a claim if you maintained a Money App account between August 23, 2018, and August 20 of the current year? The settlement will cover up to $2,500 of out-of-pocket expenses resulting from the breaches, plus up to three hours’ worth of lost time valued at $25 per hour. Individuals who have incurred a financial loss and have yet to receive reimbursement are also eligible to submit a claim for that amount.
Prior to submitting your declaration, make sure to act by 2:00 AM Eastern Time on November 19. The jury is expected to deliver a verdict on December 16 in conclusion of the trial.
