Bank of America, Ernst & Young Pay $2.5 Million in MOVEit Case

Bank of America Corp. and Ernst & Young LLP agreed to be jointly responsible for paying $2.5 million to settle a data breach suit arising from the MOVEit cybersecurity incident, according to a motion seeking preliminary approval.

Numerous commercial and government entities used MOVEit Transfer, developed and licensed by Progress Software, to move large data files. Nearly 200,000 people are estimated to be in the Bank of America and Ernst & Young settlement class, according to the deal submitted to the US District Court for the District of Massachusetts.

• The recovery from the settlement is “well within the range ...