Skip to main content
Menu Icon
Close

InfoBytes Blog

Financial Services Law Insights and Observations

Court grants final approval of privacy class action settlement

Courts California Class Action Settlement Data Collection / Aggregation Privacy, Cyber Risk & Data Security

Courts

On July 20, the U.S. District Court for the Northern District of California granted final approval of a class action settlement in a suit against a fintech company alleged to have accessed the personal banking data of users without first obtaining consent, in violation of California privacy, anti-phishing, and contract laws. As previously covered by InfoBytes, the district court granted preliminary approval of the $58 million settlement in November. In granting final approval of the settlement, the court determined it was adequate, and noted that the plaintiffs’ claim that the defendant’s practices breached California’s anti-phishing law was “relatively untested.” In addition to the $58 million settlement fund, the settlement provides for injunctive relief.