Fidelity Investments Settles $2.5M Data Breach Class Action Lawsuit

Fidelity Investments and its subsidiary agreed to a $2.5 million settlement following a data breach that occurred between August 17 and 19, 2024. The breach allegedly exposed sensitive personal information of approximately 77,099 individuals, including Social Security numbers and financial account details. Plaintiffs claimed that Fidelity failed to promptly notify affected customers about the breach, waiting nearly two months after detecting suspicious activity. The lawsuit, filed in the United States District Court for the District of Massachusetts, accused Fidelity of inadequate cybersecurity measures. The settlement aims to compensate affected customers, with potential payouts reaching up to $5,000 depending on individual losses. Fidelity has denied wrongdoing but opted for settlement to avoid litigation risks. Class members include those notified of the breach and others whose bank account and routing numbers were compromised. The deadline for filing claims is July 27, 2026.

Key Points: • Fidelity's data breach affected over 160,000 individuals, exposing sensitive personal data. • The company agreed to a $2.5 million settlement to resolve allegations of inadequate cybersecurity. • Affected individuals must file claims by July 27, 2026, to receive potential compensation.