Fidelity Investments customers may be eligible for compensation after the financial services company agreed to a $2.5 million class-action settlement tied to a 2024 data breach that exposed sensitive customer information.
The settlement stems from allegations that Fidelity failed to adequately protect customer data during a cyberattack that occurred between Aug. 17 and Aug. 19, 2024. According to court filings, an unauthorized third party gained access to customer names and other personal identifiers, including Social Security numbers, driver’s license information, financial account numbers, and routing numbers.
Fidelity said it detected and stopped the unauthorized access on Aug. 19, 2024. However, the breach still affected tens of thousands of customers nationwide. Initial reports indicated more than 77,000 customers were directly impacted, though additional court documents later suggested another 86,000 individuals whose financial account and routing information may have been compromised could also qualify for settlement benefits.
Although Fidelity agreed to settle the lawsuit, the company has not admitted wrongdoing or liability. The settlement was reached to avoid the cost, uncertainty, and disruption of continuing litigation in federal court.
Customers who qualify for the settlement could receive compensation of up to $5,000 for documented monetary losses tied to the breach. Eligible expenses may include unreimbursed fraud losses, identity theft costs, professional service fees, credit monitoring expenses, or other financial damages connected to the data exposure. Claimants seeking higher reimbursements must provide documentation such as receipts, invoices, bank statements, or bills supporting the losses.
In addition to reimbursement claims, eligible customers may also receive a cash payment estimated at roughly $100 depending on the total number of approved claims submitted. California residents could qualify for an additional payment of approximately $50 under the California Consumer Privacy Act.
The settlement also includes two years of identity theft protection and credit monitoring services for affected customers. Those services reportedly include up to $1 million in fraud and identity theft insurance coverage.
Before payments can officially be distributed, the settlement must still receive final approval from the court. A final approval hearing is currently scheduled for July 9, 2026.
Customers who believe they may qualify are being instructed to file a claim through the official settlement website. The deadline to submit claims is July 27, 2026.
For questions regarding eligibility or claim submissions, customers can contact the settlement administrator by email at info@FidelityDataSettlement.com or by phone at 833-386-6470.
The case is formally titled In re: Fidelity Investments Data Breach Litigation, Case No. 1:24-cv-12601-LTS, and is being handled in the United States District Court for the District of Massachusetts.
Cybersecurity experts continue warning consumers that financial institution breaches can increase the risk of fraud, identity theft, phishing attacks, and long-term financial scams. Experts recommend affected individuals closely monitor bank statements, credit reports, and online financial accounts for suspicious activity after any data breach involving sensitive personal information.
Source: Fox10 Phoenix
