Technology,
Civil Litigation
Aug. 2, 2022
$58M deal settles class privacy claims against fintech firm Plaid
“A reasonable fee is 19% of the common fund, or $11,000,000, which is a 2.66 multiplier. Accordingly, the court awards $11,000,000 to Class Counsel in attorneys’ fees,” concluded U.S. District Judge Donna M. Ryu.
A federal judge granted final approval to a $58 million settlement of a series of putative class actions in which 11 named plaintiffs alleged that financial technology company Plaid Inc. used their login credentials to harvest and sell their private information.
“Plaid will pay $58 million to create a nonreversionary cash settlement fund for the benefit of Class Members,” wrote U.S. District Judge Donna M. Ryu in San Francisco on July 20. ...
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