$2.5M Fidelity Investments Settlement Ends Litigation Over August 2024 Data Breach [UPDATE]

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Fidelity Investments has agreed to a $2,500,000 settlement to resolve a class action lawsuit alleging that the financial services company failed to implement reasonable cybersecurity safeguards to protect confidential client information from an August 2024 data breach.

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The Fidelity Investments class action settlement received preliminary court approval on March 11, 2026 and covers all individuals in the United States who received notice from Fidelity of the data security incident and all other individuals within the United States whose financial account number and routing number were exposed in the data breach.

Settlement documents state that approximately 155,000 individuals or joint accountholders may have been impacted by the Fidelity Investments data breach.  

ClassAction.org will update this page when the Fidelity Investments settlement website is live.

According to court documents, Fidelity settlement class members who submit a timely, valid claim form have multiple options for reimbursement.

The agreement states that class members who submit a claim form with proof of documented losses incurred because of the breach are eligible to receive up to $5,000 in reimbursement. 

All claims for documented losses must be accompanied by supporting documents such as bank statements and receipts. The settlement agreement explains that reimbursable expenses include those related to identity theft or fraud, professional fees, credit repair services, freezing credit, credit monitoring costs incurred after the data breach, and other miscellaneous expenses such as postage or notary fees.

Additionally, all settlement class members may file a claim to receive a pro-rated cash payment estimated to be $100. The agreement states that the final amount of the pro-rated payment will be determined based on what remains in the net settlement fund after payment of all attorneys’ fees, lead plaintiff service awards, notice and administrative expenses and the cost of all other settlement benefits.

Fidelity class members who reside in California are eligible to receive an additional cash payment of $50 due to statutory requirements set forth in the California Consumer Privacy Act. The final amount of this statutory payment may be subject to a pro-rated increase or decrease depending on the total number of valid claims filed, the agreement adds.

Class members may receive their settlement payout via check or electronic payment, the agreement notes, and all checks must be cashed within 90 days of issuance before expiration.

In addition to monetary benefits, all Fidelity settlement class members may file a claim to receive two free years of single-bureau credit monitoring and identity theft insurance. Settlement documents relay that the settlement administrator will email class members an enrollment code unless they do not have an email address, in which case the enrollment code will be mailed.

Importantly, the agreement notes that if more than one class member is included under a single financial account number and routing number, only one claim will be permitted under the settlement.

ClassAction.org will update this page when information on how to submit a Fidelity claim form is available.

The court will determine whether to grant the Fidelity settlement final approval following a hearing on July 9, 2026. Compensation will only begin to be distributed to class members after final approval has been granted and any appeals have been resolved.

The Fidelity Investments class action lawsuit claimed that the financial management company failed to protect the confidential information stored on its system from a data breach between August 17, 2024 and August 19, 2024. According to the filing, information that may have been compromised in the data breach includes names, Social Security numbers, financial account information, and/or driver’s license information.  

Head to ClassAction.org’s settlements page for a complete list of data breach settlements.