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Individuals who received a notice stating a February 2024 data breach involving On Q Financial may have compromised their private information could may be eligible to claim up to $5,000 plus identity theft monitoring from a class action settlement.
On Q Financial LLC agreed to pay $1,250,000 to settle a class action lawsuit regarding a data security incident that allegedly exposed clients’ names and Social Security numbers.
Who can file a claim?
Class members must have received a notice from On Q Financial about the data security incident.
How much can class members receive?
- Documented loss payment: Up to $5,000 for actual, unreimbursed out-of-pocket losses and expenses that the data breach most likely caused. This may include:
- Long-distance telephone charges
- Cell phone minutes (if charged by the minute)
- Internet usage charges (if charged by the minute or incurred solely due to the incident)
- Costs of credit reports purchased between Feb. 20, 2024, and Oct. 28, 2026
- Costs paid for credit monitoring or fraud resolution services purchased between Feb. 20, 2024, and Oct. 28, 2026, with a sworn statement that the class member purchased the service primarily because of the data breach
- Documented expenses directly associated with dealing with identity theft or fraud related to the incident
- Other documented losses fairly traceable to the data breach
- Time spent dealing with the incident
- Alternative cash payment: An estimated $50 cash payment for those who do not have documented losses or prefer a simpler claim. The settlement administrator may adjust this amount depending on the number of valid claims and the remaining funds after other costs.
- Expanded identity theft and fraud monitoring services: One year of single-bureau credit monitoring, up to $1,000,000 in insurance for losses due to fraud or identity theft, and access to a dedicated fraud/identity theft rehabilitation specialist. No documentation is required for this benefit.
Class members may claim both the alternative cash payment and the expanded monitoring service or the documented loss payment and the expanded monitoring service. If the settlement administrator deems documentation for the documented loss payment insufficient, it will treat the claim as a claim for the alternative cash payment.
How to claim a settlement payout
Class members can submit the online claim form or download the PDF claim form, complete it and mail it to the settlement administrator.
Settlement administrator's mailing address: Feathers et al. v. On Q Financial LLC, c/o Kroll Settlement Administration LLC, P.O. Box 225391, New York, NY 10150-5391
The claim deadline is Oct. 28, 2026.
Is proof or documentation required to submit a claim?
Class members must submit documentation if claiming reimbursement for documented losses. This includes credit card statements, bank statements, invoices, telephone records or receipts showing out-of-pocket losses attributable to the data breach.
No documentation is required for the alternative cash payment or the expanded identity theft and fraud monitoring service.
Payout options
- Electronic transfer (if filing online and selecting this option)
- Paper check mailed to the address provided (default option)
$1.25 million settlement fund breakdown
The $1,250,000 settlement fund includes:
- Settlement administration costs: Amount not specified
- Attorneys’ fees: Up to $437,500
- Attorneys’ expenses: Up to $30,000
- Service awards to class representatives: $2,500 each for four representatives ($10,000 total)
- Payments to class members and cost of expanded monitoring: Remainder of the fund
If the number of claims exceeds the available funds, the settlement administrator will reduce the alternative cash payment on a pro rata basis.
Important dates
- Opt-out deadline: Sept. 28, 2026
- Claim deadline: Oct. 28, 2026
- Final approval hearing: Nov. 16, 2026
When is the Feathers et al. v. On Q Financial payout date?
The settlement administrator will distribute payments and benefits after the court resolves any appeals and grants final approval of the settlement.
Why did this class action settlement happen?
The class action lawsuit claimed that, on or around Feb. 20, 2024, On Q Financial discovered an unauthorized party exploited a vulnerability in a third-party software product that potentially allowed unauthorized access to files containing client names and Social Security numbers.
On Q Financial denies any wrongdoing but agreed to settle to avoid the expense and risk of continued litigation and trial.
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