Cadence Bank has agreed to pay $5.25 million to settle a class action lawsuit over a data breach during the MOVEit file transfer vulnerability that occurred between May 28 and 31, 2023.
The case is part of In re: MOVEit Customer Data Security Breach Litigation (Case No. 1:23-md-03083-ADB-PGL), filed in the U.S. District Court for the District of Massachusetts. If you were notified by Cadence Bank that your personal information was compromised, you may be eligible for up to $10,000 in extraordinary losses or a $100 alternative payment.
You may be eligible to file a claim if you:
Ordinary losses: Up to $2,500 (bank fees, communication charges, credit expenses, up to 4 hours lost time at $25/hour).
Extraordinary losses: Up to $10,000 (unreimbursed monetary losses, professional fees, credit repair costs).
Alternative payment: $100 cash for those with no documented losses.
Additional benefit: Two years of free credit monitoring and identity theft protection services.
Filing your claim is quick and easy:
💡 Easier way: File with Class Action Buddy
Skip the paperwork. Our app auto-fills your claim form with your saved profile and submits it electronically in under 2 minutes.
Download for iPhone Download for AndroidThe breach was related to the MOVEit file transfer software vulnerability. The specific types of personal information exposed have not been fully detailed, but data breaches of this nature typically involve names, addresses, Social Security numbers, and account information.
You're likely eligible if you were a Cadence Bank customer and received a data breach notification from the bank. The notification would have informed you that your personal information may have been accessed during the security incident.
The specific claim deadline has not been announced yet. Settlement details are still being finalized. It's important to stay updated on the timeline once it's established, as missing the deadline means you won't receive compensation.
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