Earlier this year, Cash App Investing and its parent company Block Inc. agreed to pay $15 million to settle a lawsuit that alleged a “failure to exercise reasonable care” in protecting user information leading up to and after recent data breaches. The class-action complaint cited two incidents where access to some account data was compromised, saying this resulted in numerous unauthorized charges impacting Cash App customers.
Now, those consumers can submit a claim for a settlement payment — which could include reimbursement of up to $2,500 in out-of-pocket losses — ahead of final approval. Here’s what you need to know.
I don’t think that’s how this usually works?
IANAL and also I’m a dumbass but from when I’ve participated in these things in the past (and therefore when I’ve read the fine print), by the time they’re soliciting claims they have already gone through the entire process of confirming that the lawsuit is valid and deciding how much the company owes as a settlement. So once it reaches this point, the amount the company pays is already known, and it’s just equally divided among all the people with standing who file a claim.
So yeah, file a claim, because that’s your money that you deserve because you have standing. But if you don’t file a claim, everyone who did will just get a slightly larger amount of money