A recent data breach at Fidelity Investments has resulted in a $2.5 million settlement for affected consumers. The breach, which occurred between August 17 and August 19, 2024, compromised the personal information of 77,099 individuals, including names, Social Security numbers, financial account details, and driver’s licenses.
Fidelity detected suspicious activity on its network and conducted a forensic investigation, revealing that a targeted cyberattack had gained access to customer data files. Despite the breach occurring in August, Fidelity did not notify customers until October of the same year. Additionally, approximately 86,000 individuals whose financial account information was compromised were not initially notified due to state-law notification requirements.
Although Fidelity denied any wrongdoing, they agreed to settle the class-action lawsuit. The settlement includes a $2.5 million fund, offering eligible claimants $100 in cash payments, with an additional $50 for California residents. Claimants can also seek reimbursement for documented losses and fees up to $5,000, including credit report fees and credit monitoring costs.
In addition to monetary compensation, eligible members can receive two years of identity theft protection and credit monitoring. The settlement received final approval from the court on July 9, 2026.
To be eligible for the settlement, individuals must be U.S. citizens who were notified of the breach by Fidelity Investments or whose account and routing numbers were exposed, even if they were not notified.
With the July 27 deadline approaching, claimants can submit their claims online at FidelityDataSettlement.com/form/claim or download the form and mail it to Fidelity Data Security Incident Settlement, c/o Settlement Administrator, P.O. Box 25226, Santa Ana, CA 92799-9958. Forms must be postmarked by July 27 to be considered.
To prevent identity theft, the Federal Trade Commission recommends freezing credit files with the three major credit bureaus, signing up for fraud alerts to be notified of new account openings, and reviewing credit reports annually for errors and inaccuracies.
In conclusion, affected individuals should take advantage of the settlement offer by submitting their claims before the deadline and taking proactive measures to protect their personal information from future breaches.
