Fidelity Investments has reached a proposed $2.5 million settlement in a class-action lawsuit concerning an alleged data breach.
The settlement proposal received preliminary approval on Monday in the Massachusetts federal court.
The lawsuit claims that more than 155,000 account holders had their personal and financial information compromised during a cybersecurity incident in 2024.
The breach reportedly allowed unauthorized access to Fidelity’s systems, exposing sensitive customer data, including names, social security numbers, financial account information, and driver’s license information.
According to the complaint, the breach occurred between August 17 and August 19, 2024, but affected customers were not notified until October 10, 2024. This delay …
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