$5.25M Cadence Bank data breach class action settlement

Cadence Bank has agreed to pay $5.25 million as part of a class action settlement to resolve claims that it failed to protect consumers from a MOVEit data breach.

The Cadence Bank settlement benefits individuals who were notified by Cadence Bank that their personal identifying information was included in files affected by the MOVEit data breach between May 28 and 31, 2023.

Cadence Bank is a financial institution with locations across the Midwest and Southeast. In September 2023, the bank notified customers that their information may have been compromised in a MOVEit data breach.

MOVEit is a file transfer software used by many companies, including Cadence Bank, to transfer sensitive information. In May and June 2023, MOVEit was the subject of a data breach that compromised information from numerous companies, including Cadence Bank.

The data breach class action lawsuit resolved by this settlement alleged Cadence Bank failed to protect consumers from the MOVEit data breach. The bank allegedly could have prevented the breach by implementing reasonable cybersecurity measures.

Cadence Bank has not admitted any wrongdoing but agreed to a $5.25 million class action settlement to resolve the allegations.

Under the terms of the Cadence Bank settlement, class members can receive up to $2,500 for ordinary losses related to the data breach. This includes bank fees, communication charges, credit expenses and up to four hours of lost time at a rate of $25 per hour.

Class members can also receive up to $10,000 for extraordinary losses related to the Cadence Bank data breach. This includes unreimbursed monetary losses, professional fees and credit repair fees.

Class members who did not experience any losses related to 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.

The deadline for exclusion and objection is May 5, 2026.

The final approval hearing for the Cadence Bank class action settlement is scheduled for July 9, 2026.

To receive settlement benefits, class members must submit a valid claim form by June 4, 2026.

Who’s Eligible

Individuals who were notified by Cadence Bank that their personally identifying information was included in files affected by the MOVEit data breach.

Potential Award

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

Proof of Purchase

Documentation of losses, such as bank statements, invoices, receipts or telephone records. Self-prepared documents are not considered reasonable documentation, but they may be used to provide clarification, context or support for other documentation.

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

06/04/2026

Case Name

In re: MOVEit Customer Data Security Breach Litigation, Case No. 1:23-md-03083-ADB-PGL (D. Mass.), in the U.S. District Court for the District of Massachusetts

Final Hearing

07/09/2026

Settlement Website

MOVEitCadenceSettlement.com

Claims Administrator

MOVEit Cadence Bank Data Breach
c/o Settlement Administrator
P.O. Box 25226
Santa Ana, CA 92799-9834
[email protected]
833-647-9001

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

Kristine McAlister Brown
Gavin Reinke
ALSTON & BIRD LLP