A $2.5 million settlement for a data breach that compromised consumer information on Fidelity Investments’ website is just days away from a claim deadline.
Those affected by the August 2024 incident have until July 27, 2026, to submit a claim for payment of up to $5,000.
Here is what happened, who is eligible for a settlement check, and the fastest way to file a claim before the deadline.
Read more: What is identity theft, and how can you prevent it?
What happened in the Fidelity data breach?
According to court documents, the data breach occurred between Aug. 17 and Aug. 19, 2024. Fidelity said it detected “suspicious activity on its computer network” and, based on a forensic investigation, determined that a targeted cybersecurity attack had gained access to customer data files.
The compromised data files contained the personal data of 77,099 people, including names, Social Security numbers, financial account information, and driver’s licenses.
The lawsuit alleges that Fidelity did not notify customers of the breach until early October 2024. In addition, the filing indicates that approximately 86,000 other individuals or joint account holders whose financial accounts and routing numbers were compromised were not notified because they were not subject to state-law notification requirements, but are still eligible for the settlement.
Fidelity denied all allegations of wrongdoing or liability in the class-action lawsuit but agreed to settle the matter.
Fidelity data breach settlement payments
Fidelity has agreed to establish a $2.5 million settlement fund. It provides for $100 cash payments to eligible claimants, subject to the number of claims filed. California residents can receive an additional $50 payment.
Eligible customers impacted by the data breach can also receive reimbursement for documented losses and fees up to $5,000. The reimbursements can include monetary losses, credit report fees, or costs for freezing, unfreezing, or monitoring credit. Receipts, statements, or other written proof are required.
Each member is also eligible for two years of identity theft protection and credit monitoring.
The court heard final approval of the settlement on July 9, 2026.
Who is eligible for the settlement?
The court has defined eligible class members as U.S. citizens who were notified of the data breach by Fidelity Investments, and all others whose account and routing numbers were exposed by the breach, even if they weren’t notified.
How to submit a claim
With the July 27 deadline only days away, the fastest way to submit a claim is online at FidelityDataSettlement.com/form/claim. Claimants can also download the form and mail it to: Fidelity Data Security Incident Settlement, c/o Settlement Administrator, P.O. Box 25226, Santa Ana, CA 92799-9958. Forms must be postmarked by July 27.
Strategies for preventing identity theft
The Federal Trade Commission says that consumers can guard against identity theft by:
-
Freezing credit files with the three leading credit bureaus. This service is free. That prevents anyone from opening a new credit account in another person’s name by blocking access to their credit report.
-
Sign up for fraud alerts. This requires that an account holder be notified before a new account is opened in their name.
-
Review a credit report annually. Anyone can receive a free credit report each year from AnnualCreditReport.com, where they can check for errors and the accuracy of personal information.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: finance.yahoo.com
