Jeffrey D. Neuburger of Proskauer Rose writes:
On August 5, 2021, a proposed class action settlement was reached in the closely-watched privacy action against fintech services company Plaid Inc. (“Plaid”), featuring a $58 million settlement fund and certain injunctive relief that would make changes to Plaid’s methods of notice and consumer data collection, including provisions requiring the deletion of certain banking transaction data. (In re Plaid Inc. Privacy Litig., No. 20-3056 (N.D. Cal. Memorandum of Points for Proposed Settlement Aug. 5, 2021)). The plaintiffs have since filed a motion for preliminary court approval of the settlement.
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