Plaid Financial Privacy Violations Class Action
Lieff Cabraser served as Co-Lead Class Counsel in a class action lawsuit alleging that Plaid Inc., a financial technology company, invaded consumers’ privacy in their financial affairs. Plaid provides third-party bank account authentication services for several well-known payment apps, such as Venmo, Coinbase, Square’s Cash App, and Stripe. Plaintiffs alleged that Plaid used login screens that misleadingly looked like those of real banks to obtain consumers’ banking account credentials, and that it subsequently used consumers’ credentials to access their bank accounts and improperly take their banking data. Plaintiffs’ lawsuit asserted claims under state and federal privacy laws and charged that Plaid’s intrusions violated established social norms and exposed consumers to additional privacy risks.
In July 2022, Judge Donna M. Ryu of the U. S. District Court for the Northern District of California granted final approval to a class action settlement that requires Plaid to pay $58 million into a settlement fund from which benefits to settlement class members will be paid. Judge Ryu also praised “the robust injunctive relief provided by the settlement,” which requires Plaid to delete certain user data, disclose more information on the data it collects and stores, and maintain the Plaid Portal website, where users can view and manage the financial accounts and apps connected by Plaid.
Civil Litigation News
Sarah London Named to the Daily Journal’s Inaugural List of “Leading Commercial Litigators”
We are pleased to announce that the Daily Journal (subscription) has named Lieff Cabraser partner Sarah R. London to its
Judge Will Grant Preliminary Approval to $255M Economic Loss Settlement Against Juul
As reported by Law360, on January 20, 2023, U.S. District Judge William H. Orrick of the Federal District Court for the
Lieff Cabraser Profiled by Law360 as an Employment Law “Practice Group of the Year”
Law360 has published an in-depth profile on Lieff Cabraser’s Employment Law practice group as part of its recognition of the firm