Examples of Impacted Customers:

• • Mike noticed a $250 Visa gift card purchase on his Cash App he never made. He reported the fraud but couldn’t get his money back.
  • Someone accessed Gina’s investment account and made unauthorized stock trades. Cash App Investing was slow to investigate her complaint.
  • After the data breach, Lamar spent hours filing police reports, checking his credit, and changing account passwords to secure his identity.
  • Sherry had to take time off work to visit her bank after an imposter drained her linked checking account using a recycled Cash App phone number.
  • Matt received a breach notice and signed up for credit monitoring at his own expense to protect against identity theft.

Understanding the Legal Claims:

• • Negligence – Block and Cash App allegedly failed to exercise reasonable care in securing customer data and accounts.
  • Breach of Contract – By allowing unauthorized account access, Plaintiffs claim the companies violated their user agreements and promises.
  • California Consumer Privacy Act (CCPA) – The lawsuits allege Block and Cash App violated the CCPA by failing to maintain reasonable security measures.
  • Unfair Competition Law (UCL) – Plaintiffs contend the companies engaged in unlawful and deceptive business practices under California’s UCL.
  • Electronic Fund Transfer Act (EFTA) – By mishandling unauthorized EFTs and error resolution, Defendants allegedly ran afoul of the EFTA.

Key Complaint Allegations:

• • Did Defendants use reasonable data security measures? Plaintiffs say no, pointing to the employee data breach and recycled phone number issues as evidence.
  • Were customers’ losses Defendants’ fault? The lawsuits argue Block and Cash App’s lax practices enabled criminals to steal users’ money.
  • Did the companies adequately investigate and resolve disputes? Plaintiffs claim many fraud victims couldn’t get timely help or refunds.
  • Should statutory and punitive damages apply? The complaints demand penalties and enhanced damages for alleged knowing violations.
  • Are policy and injunctive changes needed? Lawsuits often seek court orders forcing companies to adopt stricter security and dispute rules.

What Compensation Can I Claim?

• • Overdraft or Late Fees – If unauthorized Cash App activity triggered bank penalties, you can request reimbursement with proof.
  • Credit Monitoring Costs – Recover paid service charges for monitoring products purchased to protect your identity after the breaches.
  • Account Closure and Replacement – Seek payment for check reorder fees, card replacement costs and similar charges due to account fraud.
  • Communication and Postage – If you had to make long-distance calls, send faxes or letters to address fraud, those costs may be reimbursed.
  • Lost Time for Remediation – Even if you didn’t suffer direct losses, you can claim up to $75 for time spent handling account issues.

How to Maximize Your Recovery:

• • Gather all documents showing losses and expenses related to unauthorized account activity or addressing data breach concerns.
  • Carefully review the claim form categories to identify all compensable costs – don’t shortchange yourself by overlooking valid expenses.
  • If claiming lost time, detail the efforts made to rectify account issues and give a reasonable, good faith estimate of hours spent.
  • For unreimbursed fraud losses, submit proof that you reported the incident to Block/Cash App, filed a police report or have other documentation.
  • Consider reaching out to an attorney or the settlement administrator if you need help understanding what you can claim based on your circumstances.

Is There a Minimum or Maximum Recovery?

• • No Minimum Loss Required – Even if you had no direct losses, you can still claim up to $75 for lost time if you had to address issues.
  • Out-of-Pocket Cap of $2,500 – The maximum reimbursement for documented losses is $2,500 per person, regardless of your actual losses.
  • No Preset Transaction Loss Limit – Unreimbursed fraud losses have no specified cap but must be proven with supporting evidence.
  • Potential for Prorated Payments – If valid claims exceed available funds, payments may be reduced proportionally among class members.
  • Residual Funds Distributed to Class – Any leftover settlement funds after initial payments will be divided among claimants if feasible.

Proof Needed to File a Claim:

• • Unauthorized Account Access – If you got a breach notice or detected suspicious login attempts, gather related communications to document the issue.
  • Fraudulent Transfers – For fraudulent transactions, provide bank or Cash App statements, police reports or other records noting the unauthorized activity.
  • Unreimbursed Losses – Submit proof that fraud losses weren’t reversed or credited back, like correspondence with Block/Cash App or your bank.
  • Expenses and Lost Time – Offer receipts, bills, phone/mail records or a personal statement outlining time spent addressing issues.
  • Prior Reimbursement – If you already got money back for some losses, you must disclose that to avoid duplicate compensation.

How to File Your Claim:

• • Visit the official settlement website at www.CashAppSecuritySettlement.com and submit your Claim Form and supporting docs online.
  • Print a paper Claim Form from the website and mail it with your materials to the Settlement Administrator at the address provided.
  • Make sure to complete all relevant sections of the Claim Form and sign it under penalty of perjury to affirm your information is truthful.
  • Keep copies of your Claim Form and documents submitted in case of any issues – only send copies, not your originals.
  • If you move after filing, promptly notify the Settlement Administrator of your new contact info so they can reach you about your claim.

Opting Out or Objecting:

• • Exclusion Process – Mail a written opt-out request with your name, address, phone number and clear statement that you wish to be excluded.
  • Opt-Out Deadline – Exclusion requests must be postmarked no later than November 1, 2024 to preserve your right to sue separately.
  • Filing an Objection – Send a written objection to the Court by November 1, 2024 detailing why you oppose the settlement terms.
  • Appearing at Final Approval – You can ask to speak at the December 16, 2024 final approval hearing about your objection but don’t have to attend.
  • Difference Between Opting Out and Objecting – Excluding yourself means you can’t participate in the settlement but keep your right to sue individually. Objecting voices your concerns but doesn’t remove you from the settlement.

Settlement Approval Factors:

• • Strength of Case vs. Risks – The judge assesses the likelihood of success at trial balanced against the guaranteed recovery offered now.
  • Reasonableness of Settlement Amount – The Court evaluates whether the $15M fund and other terms are fair given the claims and evidence.
  • Scope of Release – The judge confirms Released Claims are appropriately limited to matters related to the allegations and time period at issue.
  • Notice & Claims Process – The Court reviews the notice plan and claims procedures to ensure due process rights are protected.
  • Class Counsel Fees & Costs – The judge must approve fees and costs sought as a percentage of the fund, typically 25-33% in similar cases.

Impact of Final Approval:

• • If approved, the settlement binds all Class Members who didn’t opt out, even if they didn’t file a claim for payment.
  • Class Members will release all claims covered by the settlement against Block and Cash App Investing relating to the data incidents and account issues alleged.
  • The Court’s order approving the settlement will have the force of a final judgment, forever barring any further suits by Class Members.
  • Block and Cash App Investing will fund the $15 million settlement and implement the security enhancements promised.
  • The Settlement Administrator will carry out the approved notice plan, process claims and issue payments as outlined in the agreement.

Post-Approval Next Steps:

• • Monitor Your Claim – If you filed a claim, watch your email and the settlement website for updates on its processing status and payment.
  • Address Issues Promptly – Respond quickly to any Settlement Administrator requests for additional documentation or clarification to keep your claim on track.
  • Await Your Award – Once your claim is validated, payment will arrive within a few months by check or electronic means based on your preference.
  • Don’t Discard Notices – Review any post-approval communications carefully, as they may contain info on extended deadlines, a claims surplus or cy pres.
  • Stay Subscribed for Updates – Check the settlement website periodically and ensure settlement emails aren’t caught by your spam filter.

Common Settlement FAQs:

• • How do I know if I’m a Class Member? The class includes US users of Block, Cash App or Cash App Investing who had accounts impacted by unauthorized access at any time during the 4-year period before the suit was filed in August 2022 up through August 20, 2024 (the Notice Date).
  • When is the claim deadline? To meet the filing cut-off, your claim has to be transmitted electronically or postmarked through postal mail by the strict November 18, 2024 deadline.
  • What’s the average payout? Individual payments will vary based on the type and amount of losses claimed and validated – there’s no set average award.
  • What if I disagree with my claim determination? There will be an internal appeal process for claimants to challenge denials or deficiencies within a limited time after notification.
  • Do I need a lawyer to participate? Submitting a claim doesn’t require legal representation, but seeking counsel at your own cost could be wise if you plan to exclude yourself and file an individual lawsuit or formally object to the settlement terms.
  • What happens if I do nothing? Class Members who don’t opt out or file a claim will be bound by the settlement if approved but won’t receive any payment.
  • When will I get my payment? Validated claims will be paid about 90 days after the settlement’s Effective Date, which depends on the timing of final approval and any appeals.
  • Why is this a class action? Class actions allow the common claims of many individuals to be resolved efficiently in a single case, offering meaningful recovery for harms that may be too small to justify suing alone.
  • Who represents me as a Class Member? The Court appointed a group of experienced consumer protection and data breach attorneys to represent the class’ interests as Class Counsel.
  • How do I get more info? Visit the official settlement website at www.CashAppSecuritySettlement.com, call 1-866-615-9740 or email [email protected] for more details and answers.

Use this checklist to maximize your claim:

• • ☐ Confirm you’re a Class Member based on the criteria outlined above
  • ☐ Gather supporting documents for unauthorized account access issues and any fraud losses
  • ☐  Gather proof of costs incurred and draft a summary detailing hours spent resolving unauthorized account activity problems
  • ☐ Complete each section of the claim application thoroughly and attest to your asserted damages and costs with your signature
  • ☐ Submit your complete Claim Form and documents electronically by 11/18/24 or postmark by that date
  • ☐ Watch your email and the settlement site for updates on your claim status and payment
  • ☐ Respond promptly to any Settlement Administrator requests for additional information
  • ☐ Update your contact info with the Settlement Administrator if you move after filing
  • ☐ Await your settlement payment within 90 days after the Effective Date
  • ☐ Consider how you’ll use your settlement funds to remedy any lingering breach impacts