On September 14th, 2019, a class action lawsuit was filed against Plaid Technologies, Inc. alleging that the company had engaged in unfair and deceptive practices. The lawsuit is still ongoing, but if you are a Plaid user, you may be wondering how much you could potentially receive in the settlement. In this blog post, we will walk you through the steps to calculate your potential Plaid settlement payout. We will also provide some information on what you can do if you believe you have been a victim of Plaid’s unfair or deceptive practices. If you are a Plaid user, read on to find out how much you could potentially receive in the settlement.
What is the Plaid Settlement?
The Plaid settlement is a class action lawsuit that was filed against the company in 2016. The lawsuit alleged that Plaid violated the Fair Credit Reporting Act by collecting and selling consumers’ personal information without their consent.
As part of the settlement, Plaid will pay $12.5 million to a fund that will be used to compensate victims of the data breach. The settlement will also require Plaid to take steps to improve its data security practices.
If you are a victim of the Plaid data breach, you may be eligible for compensation from the settlement fund. To file a claim, you will need to provide your name, contact information, and a brief description of how you were harmed by Plaid’s actions. You can submit your claim online or by mail.
The deadline to file a claim is December 31, 2020. For more information about the settlement, including how to file a claim, you can visit the website set up by the settlement administrator: www.plaiddatasettlement.com
How to Calculate Your Plaid Settlement Payout
If you’re one of the 145 million people affected by the Plaid data breach, you may be wondering how much your settlement payout will be. Here’s how to calculate it.
multiplied by the number of days in the relevant time period.
The base award is $20 per person per day, with a maximum of $500 per person. So, if you were affected for 30 days, your base award would be $600.
To calculate your total payout, you’ll need to add up the base award for each day you were affected, plus any additional compensation for damages (up to a maximum of $1,000 per person). For example, if you experienced fraud or identity theft as a result of the data breach, you may be eligible for additional compensation of up to $500 per incident.
If you have documentation of any out-of-pocket expenses related to the data breach (such as credit monitoring services), you may also be able to claim reimbursement for those expenses, up to a maximum of $25,000 per person.
What If I Have More Than One Account?
If you have more than one Plaid account, you will need to calculate the Plaid settlement payout separately for each account. To do this, simply divide the total settlement amount by the number of accounts you have. For example, if you have two Plaid accounts and the total settlement amount is $1,000, each account would receive a payout of $500.
When Will I Receive My Payout?
If you’re wondering when you’ll receive your payout from the Plaid settlement, the answer depends on a few factors. The first is when you file your claim form. If you submit your claim form by the deadline of October 23, 2020, you will receive your payout sooner than if you submit it after that date.
The second factor that affects when you’ll receive your payout is how many people file claims. If more people file claims than there are funds available, the payouts will be reduced accordingly. So, if you want to maximize your chances of receiving a full payout, be sure to submit your claim form as soon as possible.
The last factor that could affect your payout is whether or not the court approves the settlement. If the court does not approve the settlement, then no payouts will be made. However, if the court does approve the settlement, then payouts will begin to be distributed within a few months after that point.
So, in summary, when you’ll receive your Plaid settlement payout depends on when you submit your claim form, how many other people have filed claims, and whether or not the court approves the settlement. The sooner you submit your claim form and the fewer people who have submitted claims, the better chance you have of receiving a full payout and receiving it sooner.
We hope that this article has helped you understand how to calculate the plaid settlement payout per person. While the process may seem complicated, it is actually fairly simple once you know what to do. If you have any questions, feel free to leave a comment below and we will be happy to help.