Home / Business and Economy / Fidelity Settles $2.5M Data Breach Lawsuit
Fidelity Settles $2.5M Data Breach Lawsuit
28 Jul
Summary
- Eligible customers have until July 27 to file a claim.
- Customers with documented losses could receive up to $5,000.
- Over 77,000 Fidelity customers were affected by the 2024 breach.
Eligible Fidelity Investments customers have until the end of July 27 to file a claim in a $2.5 million class-action settlement tied to a 2024 data breach. Customers who can document out-of-pocket losses linked to the incident may receive up to $5,000.
Those without documented losses can still qualify for a pro rata cash payment, potentially around $100, depending on the number of claims. The settlement addresses a cybersecurity incident that exposed the personal information of over 77,000 Fidelity customers, with claims for documented losses valid between August 17, 2024, and July 27, 2026.
This settlement highlights the increasing targeting of financial firms by cybercriminals. Coinbase, for instance, disclosed a separate breach in May that could cost between $180 million and $400 million. To qualify for compensation, Fidelity customers must have received notice of the breach or had their account information exposed.
