Data breaches have become an unfortunate fixture these days. Americans are learning the hard way just how much is at stake when sensitive personal information falls into the wrong hands. Pair that with scammers getting more sophisticated, it's a scary world out there. Fidelity Investments is the latest major institution to face accountability for a breach of its own.

What Happened

Between August 17 and 19, 2024, an unauthorized third party accessed and obtained certain information from Fidelity’s computer network. The personal information exposed varied by individual and may have included names, Social Security numbers, financial account information, and/or driver’s license numbers. Plaintiffs alleged Fidelity failed to adequately protect user data. Instead of going to trial, Fidelity agreed to settle. 

The Settlement Fund

Fidelity agreed to a $2.5 million settlement fund to resolve these claims. The fund is non-reversionary so the full net amount will be distributed to class members who file eligible claims. Nothing goes back to Fidelity.

What Class Members Could Receive

Recovery depends on the situation:

• Reimbursement for documented losses (up to $5,000): If you incurred actual, documented out-of-pocket losses due to the breach – such as identify theft or fraud losses, credit monitoring or freeze fees, ID replacement costs, or travel and postage expenses related to rectifying fraud – you can claim up to $5,000. Losses must have occurred between August 17, 2024, and July 27, 2026, and must be supported by documentation such as bank statements or receipts.
• Pro rata cash payment (~$100): All class members can claim a pro rata cash payment, estimated at $100, though the final amount may be higher or lower depending on total claims filed. No proof or documentation is required.
• California residents (+$50): Class members who are California residents may also claim an additional $50 payment under the California Consumer Privacy Act (CCPA)
• Identify theft protection: All class members are eligible to enroll in two years of CyEx Financial Shield Complete, which includes $1 million in financial fraud insurance and monitoring for identity theft, dark web activity, unauthorized transactions, and high-risk personal information exposure.

Do You Qualify?

The settlement class includes all U.S. individuals to whom Fidelity provided notice of the data security incident under relevant state law, as well as individuals whose financial account number and routing number were exposed in the breach. If you received a postcard or email notification from claims administrator, you are eligible. If you’re unsure, reach out to the administrator directly.

Key Deadlines

• Opt-out/Objection deadline: June 26, 2026
• Final approval hearing: July 9, 2026
• Claim filing deadline: July 27, 2026

Don’t wait until the deadline – filing sooner ensures you don’t miss out.