$2.5M Ernst & Young, Bank of America MOVEit data breach class action settlement

Ernst & Young and Bank of America agreed to pay $2.5 million as part of a class action settlement to resolve claims that they failed to protect consumers from a 2023 data breach of the MOVEit file transfer service.

The Bank of America settlement benefits individuals whose personally identifiable information (PII) was included in the MOVEit data breach that occurred between May 27 and May 31, 2023.

The data breach reportedly occurred when hackers gained access to the MOVEit file transfer software used by Ernst & Young and other companies. According to the data breach class action lawsuit, EY failed to implement reasonable cybersecurity measures to protect its clients from the breach.

Ernst & Young is a global consulting firm that provides financial services, including auditing, tax and advisory. Bank of America is a financial institution that offers banking, investing, asset management and other financial services.

Ernst & Young and Bank of America have not admitted any wrongdoing but agreed to a $2.5 million class action settlement to resolve these allegations.

Under the terms of the Bank of America settlement, class members can receive reimbursement for ordinary and extraordinary losses resulting from the data breach.

Class members can receive up to $2,500 for ordinary losses, including bank fees, communication charges, credit monitoring costs, up to four hours of lost time at a rate of $25 per hour and other documented losses. Class members can receive up to $10,000 for extraordinary losses, including unreimbursed fraudulent charges, identity theft damages and other documented monetary losses.

Class members who did not experience any losses as a result of the data breach can receive an alternative cash payment of $100.

All class members can receive two years of free credit monitoring and identity theft protection services. These services include two years of dark web monitoring, real-time credit monitoring with three major credit bureaus, access to fraud resolution agents and up to $1 million in identity theft insurance.

The deadline for exclusion and objection is Sept. 8, 2026.

The final approval hearing for the MOVEit data breach settlement is scheduled for Oct. 15, 2026.

To receive class action settlement benefits, class members must submit a valid claim form by Oct. 8, 2026.

Who’s Eligible

The settlement benefits individuals whose personal information was included in the files affected by the MOVEit security incident in May 2023.

Potential Award

Up to $12,500 in reimbursement for losses or a $100 cash payment, plus two years of credit monitoring and identity theft protection services

Proof of Purchase

Documentation of losses, such as receipts, invoices, bank statements or phone records

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

10/08/2026

Case Name

Morris v. Progress Software Corp., et al., Case No. 1:24-cv-11807-ADB, and In re: MOVEit Customer Data Security Breach Litigation, Case No. 1:23-md-03083-ABD, both in the U.S. District Court for the District of Massachusetts

Final Hearing

10/15/2026

Settlement Website

MoveitSettlementEYBOA.com

Claims Administrator

EY and BOA Settlement
c/o RG/2 Claims Administration
P.O. Box 59479
Philadelphia, PA 19102-9479
[email protected]
888-295-3216

Class Counsel

E. Michelle Drake
BERGER MONTAGUE P.C.

Gary F. Lynch
LYNCH CARPENTER LLP

Douglas J. McNamara
COHEN MILSTEIN SELLERS & TOLL PLLC

Karen H. Riebel
LOCKRIDGE GRINDAL NAUEN PLLP

Charles E. Schaffer
LEVIN SEDRAN & BERMAN LLP

Kristen A. Johnson
HAGENS BERMAN SOBOL SHAPIRO LLP

Defense Counsel

Randall W. Edwards
Pamela A. Miller
Shruti Kannan
O’MELVENY & MYERS LLP

Sean W. Gallagher
Abby M. Mollen
Dawson K. Robinson
BARTLIT BECK LLP