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Court grants final approval of privacy class action settlement

July 26, 2022

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.