April 23, 2026
Bank of America and EY have agreed to pay $2.5 million to nearly 200,000 people to settle claims in multidistrict litigation over the May 2023 breach of file transfer application MOVEit, according to a motion for settlement.
The motion for preliminary approval of the deal, filed on Wednesday, said that in addition to reimbursement for losses or a cash payment of $100, the about 198,000 class members could file claims for two years of credit monitoring and identity theft protection to remedy the alleged damages resulting from the exploitation of the MOVEit system, which is owned and operated by Progress Software Corp.
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More than 100 other commercial and government entity defendants face liability in the multidistrict litigation stemming from the breach. Recently, Cadence Bank reached a $5.3 million deal to end negligence claims it faced in the MDL, and Nebraska-based Union Bank & Trust Co. agreed to pay $2.4 million to resolve its alleged wrongdoing associated with the breach.
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The plaintiffs are represented by Daniel J. Kurowski, Whitney K. Siehl and Kristen A. Johnson of Hagens Berman Sobol Shapiro LLP, E. Michelle Drake of Berger Montague, Gary F. Lynch of Lynch Carpenter LLP, Douglas J. McNamara of Cohen Milstein Sellers & Toll PLLC, Karen H. Riebel of Lockridge Grindal Nauen PLLP, and Charles E. S
Read BofA, EY Strike $2.5M Deal To Settle MOVEit Breach Claims.