Heads up if you’ve had a Cash App account over the last six years or so: you may now be able to claim thousands of dollars as a result of a class-action settlement. The company proposed the $15 million settlement earlier this year following two security incidents. If you’re eligible to make a claim, you only have a few weeks to do so. The first related breach took place in December 2021 when, according to Cash App, a former employee downloaded reports containing information on more than 8 million users, including their full names, brokerage account numbers, and in some cases, the holdings and value of investment portfolios. The consolidated class-action complaint alleged that Cash App and parent company Block failed to enact sufficient security measures to prevent another data breach, involving Cash App’s person-to-person payment services and unauthorized access to certain accounts in 2023 using recycled phone numbers. Cash App and Block have denied any wrongdoing. You may be eligible to make a claim if you had a Cash App account between August 23, 2018 and August 20 of this year, with the settlement covering up to $2,500 of out-of-pocket costs and three hours worth of lost time at $25 per hour, along with filing claims for monetary losses. If you plan to file a claim through the settlement website, you’ll need to do so by 2 AM ET on November 19, with a final court hearing in the case set for December 16.
