Cadence Bank $5.25M MOVEit Data Breach Class Action Settlement – Claim Depot

Individuals whom Cadence Bank notified about the MOVEit data breach may be eligible to claim up to $12,500 from a class action settlement.
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Current and former Cadence Bank customers who received a notice informing them the MOVEit data breach may have compromised their personally identifying information could qualify to submit a claim for up to $12,500 from a class action settlement.
Cadence Bank agreed to pay $5.25 million to settle a class action lawsuit alleging the bank neglected its data security practices, leading to a breach of customer information through the MOVEit file transfer application in May 2023.
The MOVEit data breach impacted more than 2,500 private and government entities and an estimated 90 million individuals. The cybersecurity incident impacted an estimated 869,411 individuals associated with Cadence Bank.
Class members are individuals who received a notification from Cadence Bank around Sept. 15, 2023, stating the MOVEit data breach, which occurred between May 28 and May 31, 2023, affects their PII.
Class members have the following benefit options:
To receive a settlement payment, class members can file a claim online or print the PDF claim form to complete and mail to the settlement administrator.
Settlement administrator’s mailing address: MOVEit Cadence Bank Data Breach, c/o Settlement Administrator, P.O. Box 25226, Santa Ana, CA 92799-9834
The claim deadline is June 4, 2026.
The $5,250,000 settlement fund will include:
The settlement administrator will issue payments and credit monitoring information to approved claimants approximately 90 days after the court grants final approval of the settlement.
The class action lawsuit alleged cybercriminals gained unauthorized access to the MOVEit file transfer application Cadence Bank used, potentially exposing customer PII.
Cadence Bank denies the allegations but agreed to settle to avoid the expense and risks of continued litigation. It also agreed to invest at least $3,500,000 data security enhancements.
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