Robinhood data breach Class Action Lawsuit
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The settlement benefits individuals who experienced an unauthorized access incident on their Robinhood account between Jan. 1, 2020, and April 27, 2022, that was either reported to Robinhood by customers or reported to customers by Robinhood.
Robinhood customers allegedly lost millions as a result of the data breach. Despite promising to cover 100% of all losses caused by unauthorized activity, Robinhood allegedly denied some requests for reimbursement without any explanation.
Class members can receive up to $100 for out-of-pocket expenses related to the data breach, including communication charges, unreimbursed account losses, bank fees and more.
Class members can receive additional payments of up to $100 for credit monitoring or identity-theft protection and up to $60 for lost time. In total, class members can receive a cash payment of up to $260 from the settlement.