Uphold Class Action Settlement

United States District Court for the Southern District of New York
Case No. 1:22-CV-1602

Submit a Claim

Welcome to the Settlement Website for the
Uphold Class Action Settlement

If you are a current or former Uphold HQ Inc. user who reported unauthorized access to your account on or after February 25, 2021, this Settlement may affect your rights and may entitle you to a cash payment.

  • A class action lawsuit captioned Nero, et al. v. Uphold HQ Inc., Case No. 1:22-CV-1602 (“Lawsuit”), was filed in the United States District Court for the Southern District of New York (“Court”), on behalf of all current or former Uphold HQ Inc. (“Uphold” or “Defendant”) users whose accounts were accessed without their authorization. The Lawsuit alleges that Uphold violated certain provisions of the Electronic Funds Transfer Act (“EFTA”), and/or was otherwise negligent in protecting customer accounts from unauthorized access by cybercriminals. The proposed settlement covers Uphold users who reported to Uphold, on or after February 25, 2021, unauthorized access to their account(s), where unauthorized withdrawals were made from those account(s) within seven days before or after the user made their report (the “Class”). The Class period begins on February 25, 2021, one year prior to the filing of the Lawsuit, which is consistent with the one year statute of limitations for the EFTA. To demonstrate a link between the unauthorized access and unauthorized withdrawal, the report to Uphold of unauthorized access must have been within seven days of (before or after) an unauthorized withdrawal.

  • Uphold denies any wrongdoing and denies the claims and allegations asserted in the Lawsuit. The Court has not ruled on the merits of the plaintiffs’ EFTA-related claims and has made no determination that Uphold violated the law. The parties nevertheless have agreed to settle the Lawsuit (“Settlement”) to avoid the risks and uncertainties of continued litigation.

  • You may receive a cash payment if you are a member of the Settlement Class and timely submit a valid claim form.

  • Your legal rights are affected by whether you act or do not act. Read the notice carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A CLAIM FORM BY AUGUST 16, 2024

This is the only way to receive a cash payment. If you submit a Claim Form, you will be bound by the terms of the Settlement.

EXCLUDE YOURSELF BY AUGUST 5, 2024

You will not receive a cash payment under the Settlement and you will not be bound by the terms of the Settlement. This is the only option that allows you to ever be part of any other lawsuit against Uphold about the legal claims in this case.

OBJECT TO THE SETTLEMENT BY AUGUST 5, 2024

Write to the Court about why you don't like the Settlement.

GO TO A HEARING ON OCTOBER 4, 2024

Ask to speak in Court about the fairness of the Settlement.

The Court in charge of this case must still decide whether to grant final approval of the Settlement. Payments will be issued if the Court grants final approval and after appeals, if any, are resolved. Please be patient.

Upcoming Important Dates

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