Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Fidelity’s wealth management group is set to pay customers affected by a data breach in 2024.
According to the expectations to solveFidelity must pay $2.5 million to settle a class action lawsuit accusing the financial institution of not adequately protecting its computers.
In August 2024, hackers broke into Fidelity’s computer network and modified customer information that may have included social security numbers, financial information, names, numbers and addresses, according to the lawsuit. Fidelity’s investigation confirmed the hack by a third party.
About 155,000 customers were affected by the data breach and are entitled to up to $5,000 in compensation for eligible expenses, such as losses due to identity theft, credit reporting fees, ID replacement fees and the cost of travel to banks or other locations to resolve the theft.
All those involved can submit a $100 bond.
Up to one-third of the money is expected to cover attorneys’ fees and up to $45,000 will cover legal costs. The decision requires final approval by a federal court judge.
As part of the settlement, Fidelity maintains that it did nothing wrong.
Follow us X, Facebook and Telegram
Don’t Miss Out – Sign up to receive email notifications straight to your inbox
See Price Action
Swimming Daily Hodl Mix
 
Disclaimer: The views expressed in Daily Hodl are not financial advice. Investors should do their due diligence before making any risky investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any assets including cryptocurrencies, nor is The Daily Hodl a financial advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image Created: Midjourney
