A significant update is available for anyone who have been using the Cash App since the year 2018, and you will not want to miss it.
The time limit for submitting your claim as part of a major $15 million settlement that was reached as a result of a class action lawsuit is becoming increasingly near.
There is just approximately a week remaining for you to submit your claim, so it is imperative that you move fast in order to maximize your chances of receiving up to $2,500.
Allegations of a significant nature were made against Block Inc. in 2022, which was the parent firm of Cash App and Cash App Investing.
As a result of a former employee gaining illegal access to account data, the corporation is being accused of breaching its commitments to users, which brings up allegations of negligence.
Block alerted about 8.2 million current and past users about the security event, as stated in a filing with the United States Securities and Exchange Commission. This breach resulted in a massive notification effort, which was carried out by Block.
Block’s problems did not end there; they continued later. The complaint, which was filed in 2023, asserted that Block had once again acted negligently.
For this particular instance, it has been stated that a “unauthorized user” gained access to specific Cash App accounts by utilizing recycled phone numbers that were tied to those accounts.
In addition to the breaches, Block and Cash App Investing were accused of failing to take enough precautions to protect user accounts following both of the occurrences.
It was criticized that they did not appropriately resolve customer complaints that were related to transactions that were either fraudulent or performed without authorization.
As the deadline draws closer, it is absolutely necessary for customers who are eligible to submit their claims in order to get a portion of the settlement. Maintain a level of awareness and take the essential actions to guarantee that your claim will be submitted on time.
It is essential to be aware of a recent arrangement that Block and Cash App Investing came to earlier this year during the course of the continuous advancements that are taking place with these two platforms.
Despite the fact that they denied any wrongdoing or guilt, they nevertheless agreed to a hefty payment of fifteen million dollars.
Are You Eligible for the Settlement Cash App ?
There is a possibility that you could be eligible for a portion of this settlement if you have ever used Cash App or Cash App Investing service. This is how you can discover whether or not you are eligible:
- It is possible that you have used Cash App and/or Cash App Investing in the past.
- Someone entered your account without first obtaining your permission.
- During the period beginning on August 23, 2018, and ending on August 20, 2024, there were withdrawals or transfers made from your account that were either fraudulent or unlawful.
Important Deadline
If you want to claim your portion of the settlement or opt out of receiving it, you have until November 18, 2024 at 10:59 p.m. Pacific Time to take action. The settlement website makes it clear that this deadline is of the utmost importance.
How to Proceed
On the website of the settlement, you can proceed with the process by using your notification ID and confirmation code if you have received a notice through the mail or via email.
Nevertheless, if you have not received a notification but believe that you are qualified, you need not be concerned. There is still the possibility of participating by filling out a claim form online.
According to the information provided on the website for the settlement, if the settlement and payments are approved, you may be able to receive up to $2,500 for “out-of-pocket losses” that you sustained within the given time period.
You are need to present documentation from a third party that establishes a connection between these losses and a “data security incident,” a “unauthorized account event,” or a “deficiency in error resolution” of your Cash App or Cash App Investing account in order to be eligible for this benefit.
Reimbursement for Lost Time
Additionally, you have the option of filing a claim in order to be compensated for missed time. The highest amount that can be compensated for lost time is $75, and it is capped at $25 per hour for up to three hours.
You will be required to file at least one of the following documents in order to provide evidence in support of your claim for documented transaction losses that were the consequence of a “unauthorized account event.”
- A copy of a notification that refers to an event that occurred on an illegal account.
- A copy of a police report that pertains to an occurrence that occurred with an unauthorized account.
- A piece of evidence that clearly demonstrates that your account was accessed without your authorization.
Documentation Requirements
In order to have a successful claim, it is essential that you make sure you have the appropriate documents.
You should be ready to produce documentation that proves the connection between the security breach or unauthorized activity and the financial loss you have suffered.