Nebraska Bank to Pay $2.4 Million to Settle MOVEit Breach Suit

Nebraska-based Union Bank & Trust Co. would pay $2.4 million to settle a proposed class action alleging it negligently failed to protect the personal data of customers that was exposed in a cyberattack on Progress Software Inc.'s MOVEit file-transfer software, under a proposed deal filed in federal court.

Class members would be eligible for up to $10,000 in reimbursement for extraordinary losses related to the breach, $2,500 for ordinary losses, or an alternative cash payment of $100, according to the plaintiffs’ motion for preliminary approval of the deal. They filed the motion Tuesday in the US District Court for the ...