Fidelity settlement payouts up to $5K, do Californians get a cut?
Fidelity Investments agreed to a $2.5 million settlement for a 2024 data breach, potentially offering payouts to affected customers, including Californians.Summary
Fidelity Investments and Fidelity Brokerage Services have agreed to a $2.5 million settlement to resolve a class-action lawsuit stemming from a data breach that occurred between Aug. 17 and Aug. 19, 2024. The lawsuit, filed in federal court in Massachusetts, alleged that the company failed to protect its computer network from unauthorized access. As part of the settlement, Fidelity denied any wrongdoing but agreed to the terms to avoid further litigation costs and risks. The settlement is subject to court approval, with a hearing scheduled for July 9. Affected individuals, including those notified by Fidelity and those whose account numbers and routing numbers were exposed, may be eligible for payouts ranging from $50 to $5,000. These payments include reimbursements for documented monetary losses, pro rata cash payments, and, for California residents, a payment related to the California Consumer Privacy Act. Claimants must file an online claim by July 27 to receive benefits.
(Source：Ventura County Star)