Evolve Bank Gets Initial Nod For $12 Million Data-Breach Deal

A federal court gave initial approval to a proposed deal requiring Evolve Bank & Trust to pay nearly $12 million to settle a lawsuit over a 2024 data breach that exposed the information of around 18 million people.

Class members would be entitled to reimbursement of actual losses of up to $3,000 per claimant or a pro-rata cash payment from the settlement fund, according to the plaintiff’s motion for preliminary approval filed in the US District Court for the Western District of Tennessee.

• Judge Sheryl H. Lipman granted the plaintiffs’ motion May 30, and scheduled a final fairness hearing for ...