A major settlement with Fidelity Investments stemming from a data breach could send customers payouts of up to $5,000, but time is running out to file a claim.
The $2.5 million settlement comes after the lawsuit alleged Fidelity suffered a cybersecurity incident between Aug. 17 and Aug. 19 2024, with a third party accessing and obtaining personal and financial records of some customers. Those records included names, social security numbers, financial account numbers amd/or driver’s license information, a website for the settlement administrator said.
Once approved, the settlement could pay eligible class members as much as $5,000 based on documented out-of-pocket losses due to the incident, the administrator said. In addition, all class members will be entitled to a smaller payout, with no receipts needed.
As the claim deadline approaches, here’s what to know.
Who is included in the Fidelity settlement?
According to court documents, eligible class members were notified by Fidelity about the settlement and the breach. Those who were impacted received a unique ID and PIN from Fidelity in order to file a claim.
Anyone who believes they were impacted by the breach and should be included in the settlement but did not receive a PIN number can request it by emailing [email protected], with a full name and mailing address.
How much money could you get?
Payouts vary, and final amounts will depend on how many claims are filed, the administrator website said, but some class members could be owed thousands.
“If you incurred actual, documented out-of-pocket losses due to the Data Security Incident, you can get back up to $5,000,” the administrator website said.
Those loses must have occurred starting Aug. 17, 2024, and include things like identity fraud, fees for credit reports, credit monitoring or credit freezing, costs to replace IDs, postage and cost of gas used to travel to and from banks.
Proof must be provided, the administrator said, in the form of bank statements or receipts.
In addition, all class members are automatically eligible to receive a payout without providing proof or receipts. That payment, called a “pro rata cash payment,” is expected to be $100, but could be larger or smaller depending on the number of claims filed.
When will payouts go out?
A final approval hearing for the settlement is scheduled for July 9, 2026.
Settlement payouts will be distributed if the court grants final approval, and after any appeals are resolved, the administrator said.
Claim deadline
The deadline to file a claim is July 27, 2026, according to the administrator. More information on how to file a claim can be found here.
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