Cash App users have a week to claim their share of a $15 million settlement.
Users can request up to $2,500.
Current or former users of Cash App who have utilized the service since 2018 have until next week to claim a portion of a $15 million settlement reached by Cash App Investing and its parent company, Block Inc., as a result of a class action lawsuit. The lawsuit accused the companies of being negligent in their response to customers after a former employee accessed users' accounts without authorization.
Users are eligible to participate in the settlement if their accounts were accessed without their permission or if they experienced unauthorized or fraudulent withdrawals or fund transfers. The eligibility period spans from August 23, 2018, to the notification date of August 20, 2024.
Interested parties can file a claim through the settlement website, seeking up to $2,500 for reimbursements for out-of-pocket losses, lost time, or transaction losses, according to the settlement document. The claim must be submitted by November 18, 2024, and submission of external documentation to support the claim is required. The settlement does not specify a timeline for payment distribution.
Additionally, there is an option to opt-out of the settlement before the deadline, which allows individuals to retain the right to sue Block or to be part of a future legal action related to the claims of this class action lawsuit. The settlement website states that Block and Cash App Investments "made misleading statements and violated other obligations to their users" in relation to: (1) a data security incident that Cash App Investing disclosed in April 2022, (2) a data security incident that Block disclosed in October 2023, and (3) the alleged fraudulent and unauthorized withdrawals and transfers of funds, as well as the complaint and error resolution processes associated with Cash App accounts and linked accounts.