(NEXSTAR) – Fidelity Investments agreed Wednesday to pay $2.5 million in a class action lawsuit to settle claims over a 2024 data breach.
The lawsuit alleges that third parties were able to gain access to Fidelity’s computer network between August 17 and 19, 2024, and access personal information that may have included names, Social Security numbers, financial account information and driver’s license information.
Fidelity has agreed to pay up to $5,000 but has not admitted any wrongdoing in the case. According to reports, more than 77,000 customers were affected by the breach.
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“The parties have agreed to settle the litigation … to avoid the costs and risks, disruption and uncertainty of continued litigation,” Fidelity’s settlement notice said.
The largest compensation payments will be made to those who can document “out-of-pocket costs” related to the data breach.
Others can claim $100 – the amount may fluctuate based on the total number of claims filed. “You do not need to provide any evidence or explanation to claim this payment,” the settlement administrator said.
California residents can also apply for a $50 payment thanks to the state’s Consumer Privacy Act.
All members are eligible for two years of identity theft protection and credit monitoring.
Claims can be submitted on the settlement website.
A final approval hearing for the settlement agreement is scheduled for July 9.
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