Cadence Bank Will Pay $5 Million to End Suit Over MOVEit Hack

Cadence Bank agreed to pay $5.25 million to settle a class action over a 2023 data breach that exposed the personal information of nearly 900,000 people.

The parties are seeking preliminary approval of the deal to end the case against Cadence, which is part of a multidistrict litigation against dozens of companies tied to the MOVEit cyberattack, according to a motion filed Wednesday in the US District Court for the District of Massachusetts.

The class includes all individuals who were notified by Cadence that their personal information was exploited in the data breach. Class members will receive either reimbursement ...