Settlement Structure: Claims Made
Closed Settlement Statement:
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.Case Summary:
Plaid, Inc. allows users to connect to their banks through mobile and web-based apps. It is now paying $58 million to settle class actions alleging that when it did so, it took more information than it needed and kept login information. The complaints alleged that its user interface, Plaid Link, looked like the user’s own bank login screen, but that the user was in reality entering the login information in Plaid.Docket Number:
Company: Plaid, Inc.
Filing Deadline: April 28, 2022
Class Period: January 1, 2013 to November 19, 2021
Objection Deadline: March 4, 2022
Exclusion Deadline: March 4, 2022
Final Approval Hearing: May 12, 2022Proof of Purchase:
You must submit a claim form, but you do not have to provide proof.Eligibility:
You may be eligible if you are a US resident and
- You own or owned one or more financial accounts,
- Plaid either (1) accessed your financial account or (2) obtained the login credentials for your financial account, between January 1, 2013 and November 19, 2021, and
- You were a US resident at the time this occurred.
Financial accounts do not include accounts that were connected, or for which credentials were provided, exclusively through an OAuth Process or Managed OAuth Process.Typical Settlement Amount:
Class members will receive a share of the net settlement fund (after attorneys’ fees and expenses, service awards, and settlement administration costs have been deducted). Each class member is entitled to only one share, no matter how many apps or accounts they had.
Users can create Plaid Portal accounts to manage connections you’ve made to Plaid and to delete information stored in Plaid’s system.
Total Settlement Amount: $58 millionClass Representative Proposed Incentive Fee:
Up to $5,000 each
Burns Charest LLP
Herrera Kennedy, LLP
Lieff Cabraser Heimann & Bernstein
Claim Form: Plaid Bank Account Privacy Settlement Claim Form
Case Name: In re Plaid Inc. Privacy Litigation
Settlement Website: Plaid Bank Account Privacy Settlement Website
In re: Plaid, Inc. Privacy Litigation
c/o Settlement Administrator
1650 Arch Street, Suite 2210
Philadelphia, PA 19103