Overview
- The court-appointed settlement administrator expects to start sending payouts in October 2026 to claimants who submitted valid claims before the Nov. 18, 2024 cutoff.
- Eligibility covered Cash App Investing customers affected between Aug. 23, 2018 and Aug. 20, 2024 and required claimants to document losses tied to unauthorized or fraudulent withdrawals or transfers.
- Each eligible claimant may seek up to $2,500 for documented out-of-pocket losses including transaction losses and up to three hours of lost time at $25 per hour.
- The March 2024 agreement set a $15 million fund to resolve a 2022 class-action over an alleged 2021 breach that exposed personal data for millions of Investing users, and neither Cash App nor parent Block admitted wrongdoing.
- Payments will be reduced to cover attorneys’ fees and settlement administration costs and final payouts will depend on verified losses and the number of valid claims so no late filings will be accepted.