Fidelity customers face key deadline to claim settlement cash

For many Americans, financial institutions hold some of their most sensitive information, including Social Security numbers and bank account details.

What happens when this information is leaked or becomes susceptible to a data breach? It can leave people more vulnerable to identity theft, fraud, and other financial risks.

This is why a data breach is especially troubling, especially when it involves a major money manager trusted by millions of customers to protect both their personal information and their financial assets.

Now, some Fidelity Investments customers may be eligible for cash payments up to $5,000 after the company agreed to settle a lawsuit tied to a 2024 data breach.

Fidelity has agreed to establish a $2.5 million settlement fund to resolve claims over a data security incident that occurred between August 7 and August 19, 2024, according to the official settlement website.

The case, In re: Fidelity Investments Data Breach Litigation, is pending in the US District Court for the District of Massachusetts.

The settlement does not mean Fidelity has admitted wrongdoing; the company denies wrongdoing, and the court has not decided which side is right.

Still, the agreement could bring payments and identity protection services to customers whose information may have been exposed.

Fidelity customers may qualify for settlement cash

The 2024 Fidelity class action lawsuit centers on allegations that a third party accessed and obtained certain information from Fidelity’s computer network without authorization in August 2024.

According to the settlement details, Fidelity’s investigation found that the information potentially accessed varied by person and may have included names, Social Security numbers, financial account information, and/or driver’s license information.

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The settlement covers people in the US who received notice about the data security incident, as well as people whose financial account numbers and routing numbers were exposed in the incident.

According to the lawsuit, Fidelity identified approximately 155,000 individuals or joint accountholders who are intended to be part of the class. That includes about 77,099 individuals who were required to be notified under state or foreign laws, along with about 86,000 other individuals or joint accountholders whose financial accounts and routing numbers were impacted.

Eligible class members can file a claim for several benefits.

This table summarizes the details of the proposed settlement:

Those who suffered actual, documented out-of-pocket losses related to the breach can even seek reimbursement of up to $5,000. The losses must have occurred between August 17, 2024, and July 27, 2026.

Covered expenses may include:

• Losses tied to identity theft or fraud
• Credit report or monitoring fees
• Cost to freeze or unfreeze credit replacement IDs
• Banks, gasoline, or the cost of a trip to fix fraud and identity theft

For the $5,000 claim, people will have to provide valid proof or explanation, such as bank statements and documents showing the expenses were tied to the data breach.

Class members can also claim a cash payment expected to be around $100, though the final amount may be higher or lower, depending on how many valid claims are filed. No proof is needed for this.

Additionally, California residents in this class action may also claim a $50 California Consumer Privacy Act payment, which may change again depending on the number of claims.

The settlement also provides two years of identity theft protection and credit monitoring through CyEx Financial Shield Complete. The service includes $1 million of financial insurance and monitoring for fraud, identity theft, dark web posting, and unauthorized financial transactions.

Fidelity customers face a key deadline

The settlement amounts will not be transferred automatically and require proper filing of a claim with Fidelity to be eligible for payouts.

Here are important deadlines to get your cash:

• Customers who want settlement benefits: Deadline July 27, 2026
• Customers who want to exclude from settlement or object to it: Deadline June 26, 2026
• If you do nothing, you do not receive payment or benefit and give up the right to sue Fidelity.

The final approval hearing for the case is on July 9, 2026, at 2 pm EST. Payments will be distributed only if the court grants final approval and after any appeals are resolved.

Use this link to access the settlement website and the link to the claim form.

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