Paysafe data breach $2M class action settlement

Paysafe agreed to a $2 million settlement to resolve a class action lawsuit claiming that it failed to prevent a long-term data breach that lasted from 2018 to 2020.

The settlement benefits individuals who received a data breach notification from Paysafe informing them that their information may have been compromised in a data breach between May 2018 and October 2020.

According to the data breach class action lawsuit, Paysafe negligently allowed a data breach to occur from May 2018 to October 2020 — over two years. The data breach compromised Social Security numbers, bank account data and other sensitive information. 

Paysafe is a payment solution company that serves both merchants and consumers around the world.

Paysafe hasn’t admitted any wrongdoing but agreed to a $2 million settlement to resolve the data breach class action lawsuit.

Under the terms of the settlement, class members can receive up to $25,000 for out-of-pocket expenses related to the data breach including fraud damages, identity theft expenses, bank fees, up to 10 hours of lost time compensated at a rate of $25 per hour and other expenses.

Class members can also receive a residual cash payment after expense reimbursement claims are paid. These payments will vary depending on the number of participating class members and the amount of the settlement fund used to pay expense claims. 

The deadline for exclusion and objection is Nov. 27, 2023.

The final approval hearing for the settlement is scheduled for Feb. 2, 2024.

In order to receive settlement benefits, class members must submit a valid claim form by Nov. 27, 2023.

Who’s Eligible

Individuals who received a data breach notification from Paysafe informing them that their information may have been compromised in a data breach between May 2018 and October 2020

Potential Award

$25,000

Proof of Purchase

Required documentation differs depending on the type of claim being submitted, but may include account statements, receipts, phone bills, IRS letters, etc.

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

11/27/2023

Case Name

Bitmouni v. Paysafe Limited, Case No. 3:21-cv-00641-JCS, in the U.S. District Court for the Northern District of California

Final Hearing

02/02/2024

Settlement Website

PaysafeSettlement.com

Claims Administrator

Bitmouni v. Paysafe
c/o Kroll Settlement Administrator
PO Box 5324
New York, NY 10150-5324
info@paysafesettlement.com
833-910-3608

Class Counsel

Anderson Berry
Gregory Haroutunian
CLAYEO C ARNOLD PLC

John A Yanchunis
Ryan D Maxey
MORGAN & MORGAN COMPLEX LITIGATION GROUP

Defense Counsel

Jim Pastore
Kristin D Kiehn
DEBEVOISE AND PLIMPTON