Cadence Bank’s $5.25 Million MOVEit Breach Deal Gets Initial Nod

Cadence Bank would pay $5.25 million to settle a class action over a 2023 data breach of Progress Software’s MOVEit file-transfer system that exposed the personal information of nearly 900,000 people, under a deal given initial approval in federal court.

Class members would receive reimbursement of extraordinary losses up to $10,000, ordinary losses of up to $2,500, or a cash payment of $100, according to the plaintiffs’ motion for preliminary settlement approval filed in the US District Court for the District of Massachusetts.

• Judge Allison D. Burroughs, who presides over multi-district litigation related to the MOVEit breach, granted the motion ...