Evolve Bank to Pay $12 Million to Settle Data Breach Lawsuit

Evolve Bank & Trust would pay nearly $12 million to settle a proposed class action arising from a 2024 data breach that exposed the personal information of around 18 million people, under a proposed deal filed in federal court.

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 after the deduction of attorneys’ fees and the costs of administration, according to the plaintiffs’ motion for preliminary approval of the deal filed Tuesday in the US District Court for the Western District of Tennessee. ...