Claim Form Deadline: January 17, 2023 (Closed)
Estimated Payout: ~$260
Payment Methods: Venmo, PayPal, Zelle, MasterCard, Direct Deposit
What is the Robinhood Class Action Lawsuit About?
A $20 million class action lawsuit has been settled against Robinhood, a popular stock trading platform available as a smartphone app or via a web browser. The lawsuit alleged that Robinhood failed to implement adequate data security measures, leading to account takeovers and hacking incidents. According to court documents, the platform lacked “almost universal security measures,” exposing users to data breaches of their personally identifiable information due to multiple incidents.
How Do I Qualify?
You may be eligible for a cash reward if your account was one of the 40,000 Robinhood accounts breached by unauthorized users between January 1, 2022, and April 27, 2022. To qualify, you must have been notified by Robinhood about unauthorized access, or you must have reported a breach of your account to the platform. Please note that a specific data breach incident on November 3, 2021, is not included in this lawsuit.
How Much Compensation Can I Expect?
Eligible Robinhood customers in the U.S. can file claims for up to $260, which includes:
- Up to $60 ($20 per hour for up to 3 hours) for time spent resolving issues related to Robinhood’s security defects.
- Up to $100 for reimbursement of identity theft protection or related services, such as credit monitoring.
- Up to $100 for out-of-pocket expenses resulting from breaches in the Robinhood app.
How Do I File a Claim?
Claims must have been submitted by January 17, 2023, as the class action is now closed and no longer accepting claims. You can explore other available class actions to qualify for here. A final approval hearing has been scheduled for May 16, 2023, at 10:00 AM Pacific Time.
Claim Form Website: www.RobinHoodAccountTakeoverSettlement.com
Please be aware that your claim form will be rejected if it contains fraudulent information. By submitting your information and your sworn statement of its accuracy, you are agreeing to do so under penalty of perjury. Submitting false information not only jeopardizes your claim but also affects others who are genuinely eligible for the settlement. If you are uncertain about your eligibility for this class action settlement, please visit the class action administrator’s website for more information. Note that NoProofClassActions.org participates in the Amazon affiliate advertising program, and this post may include affiliate links, which could result in us earning a commission if you make a purchase through those links.
