Fidelity Investment agreed to pay $2.5 million to resolve claims it failed to prevent a 2024 data breach that compromised sensitive consumer information.
The Fidelity Investment class action settlement benefits individuals who received a data breach notice from Fidelity informing them their financial account number and routing number were compromised between Aug. 17 and Aug. 19, 2024.
According to a class action lawsuit, Fidelity failed to prevent the data breach despite having reasonable cybersecurity measures available to it. The Fidelity Investment data breach could have been prevented if the company had taken reasonable cybersecurity precautions, the plaintiffs contend.
Fidelity is a financial institution that offers investment services, retirement accounts and other financial services.
Fidelity has not admitted any wrongdoing but agreed to a $2.5 million class action settlement to resolve the allegations.
Under the terms of the Fidelity Investment settlement, class members can receive up to $5,000 for documented monetary losses related to the data breach. This could include unreimbursed fraud or identity theft losses, professional fees and credit expenses.
All class members can receive a cash payment of around $100 depending on the number of claims filed with the settlement. Class members who live in California can receive an additional payment of $50.
Class members are also eligible for two years of identity theft protection and credit monitoring services. These services include $1 million of fraud and identity theft insurance.
The deadline for exclusion and objection is June 26, 2026.
The final approval hearing for the Fidelity Investment data breach settlement is scheduled for July 9, 2026.
To receive class action settlement benefits, class members must submit a valid claim form by July 27, 2026.
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