$2.5M Settlement for Fidelity Investments Data Breach Affects Thousands

Severity: Medium (Score: 51.1)

Sources: Uk.Finance.Yahoo, Al, topclassactions.com, www.barrons.com, Topclassactions

Summary

Fidelity Investments has agreed to a $2.5 million class action settlement due to a data breach that occurred from August 17 to August 19, 2024. The breach compromised sensitive information, including financial account numbers and routing numbers, affecting over 77,000 customers. A third party gained unauthorized access to Fidelity's network, leading to claims that the company failed to implement adequate cybersecurity measures. Plaintiffs allege that the breach exposed them to identity theft and fraud risks. Fidelity has denied wrongdoing but opted for the settlement to avoid further litigation costs. Class members can claim up to $5,000 for documented losses and a pro rata cash payment of around $100. The settlement also includes two years of identity theft protection services. The court hearing for final approval is set for July 9, 2026, with claims due by July 27, 2026. Key Points: • Fidelity agreed to a $2.5 million settlement for a 2024 data breach affecting over 77,000 customers. • The breach compromised sensitive financial information, exposing customers to identity theft risks. • Class members can claim up to $5,000 for documented losses and receive additional identity theft protection.

Key Entities

• Data Breach (attack_type)
• Apple (company)
• Capital One (company)
• Comcast (company)
• Fidelity Brokerage Services (company)
• Fidelity Investment (company)
• United States (country)
• CWE-200 - Exposure of Sensitive Information (cwe)
• fidelitydatasettlement.com (domain)
• [email protected] (email)
• Financial (industry)