Should we join a class action settlement?

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Q. My mother received a postcard about a class action settlement related to a data breach with a link to submit a claim. Should she?
— Unsure

A. There’s probably no risk.

But she will also be giving away certain rights if she joins the class action.

These postcards usually give a website where you can get more information. They typically explain the offense alleged as part of the settlement, who qualifies for the settlement and what they can expect to get in terms of money or other items, like a gift card or free security monitoring. It really depends on the details of the alleged wrongdoing.

There will probably also be a Q&A section that explains what your mom’s rights are if she chooses not to participate.

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This story was originally published in September 2024.

NJMoneyHelp.com presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.

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