Evolve Bank & Trust Faces Wave of Suits Following Cyberattack

Evolve Bank & Trust was hit with a series of proposed class actions over a ransomware attack, which leaked the personal information of a swarm of customers.

The latest complaint says the banking institution’s inadequate cybersecurity measures led to a data breach that exposed the account information and Social Security numbers of some of its users, according to a June 29 filing in the US District Court for the Western District of Tennessee.

The bank issued a statement on its website, which it regularly updates, telling customers that it first identified its systems “were not working properly” in late May, ...