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The Block and Cash App class action lawsuit
A class actionwas filed against mobile payments company Cash App Investing and its parent Block over negligent behavior related to the December 2021 data breach that allegedly compromised the personal information of 8.2 million former and current users. The breach resulted from an ex-employee still having access to reports containing users’ full names and brokerage account numbers, according to an April filing by Block with the Security and Exchange Commission (SEC). The ex-employee had regular access to reports as part of their past job responsibilities. The ex-employee accessed the reports without permission after their employment ended. The company stated that no personally identifiable information such as usernames or passwords, Social Security numbers, date of birth, payment card information, addresses, or bank account information was compromised. However, the downloaded reports contained customers’ full names and brokerage account numbers — unique ID numbers associated with Cash App Investing customers’ stock activity. The class action maintains that data breach victims now face a heightened risk of identity theft and fraud. The lawsuit links the data breach with subsequent thefts from users’ Cash App accounts, with the leading plaintiffs arguing they experienced fraudulent activity on their accounts following the breach.
https://www.pymnts.com/legal/2022/cash-app-block-accused-of-negligence-in-class-action-over-breach/
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