Fidelity Investments agreed to a $2.5 million settlement of a class action lawsuit stemming from a data breach that occurred in August 2024, with individual payouts ranging from about $50 to up to $5,000.
The lawsuit, filed in a Massachusetts federal court, focuses on a cyberattack that lasted from August 17 to August 19, 2024. During this time, an unauthorized person broke into Fidelity’s systems and accessed customers’ personal data. The plaintiffs said Fidelity could have prevented the breach by using better cybersecurity tools. Fidelity has not admitted to any wrongdoing.
The settlement covers two groups: the more than 77,000 customers Fidelity notified about the breach, and an additional roughly 86,000 customers whose financial account numbers and routing numbers were exposed, according to USA Today.
People who can show they lost money because of the breach can get up to $5,000 to cover costs like identity theft, professional fees, or credit monitoring. Other eligible class members will get about $100, though this amount may change depending on how many people file claims, and no proof is needed for this payment. California residents can get an extra $50 because of the state’s Consumer Privacy Act. Everyone in the settlement will also get two years of identity theft protection and credit monitoring, with up to $1 million in insurance against fraud and identity theft.
According to MSN, the types of personal data potentially affected by the incident include Social Security numbers, driver’s license details, financial account information, and names.
The court has not yet approved the settlement. A final approval hearing is scheduled for July 9, 2026. Class members must submit a claim by July 27, 2026. Those who wish to opt out — preserving their right to bring a separate lawsuit — must do so by June 26, 2026. Inaction carries a cost: members who neither file a claim nor opt out stay bound by the settlement’s terms while forfeiting any financial benefit.
Claims can be filed at the settlement website, fidelitydatasettlement.com. Members who are uncertain about their eligibility can contact the settlement administrator by email at info@FidelityDataSettlement.com or by phone at (833) 386-6470.
