Evolve Bank & Trust Data Breach Lawsuits Consolidated into Multidistrict Litigation

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Several class action lawsuits have been filed against Evolve Bank & Trust over a massive 2024 data breach that exposed the personal information of more than 7.6 million individuals, and 22 of those cases have been consolidated into multidistrict litigation (MDL).

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On October 4, 2024, the Judicial Panel on Multidistrict Litigation (JPML) issued a three-page transfer order, instructing that 22 Evolve data breach lawsuits—originally filed in three different federal courts across the country—be consolidated and transferred to the Western District of Tennessee.

Evolve Bank & Trust stated in an online disclosure that a cybercriminal group known as LockBit infiltrated its systems and downloaded private information after an employee had mistakenly clicked on a malicious link. The bank says LockBit leaked the stolen data on the dark web after it refused to pay the group’s ransom demand.

Related Reading: Evolve Bank & Trust Data Breach Lawsuit Filed After Cybercriminals Reportedly Steal Consumer Info

According to Evolve’s online notice, the ransomware attack exposed the names, Social Security numbers, bank account numbers, dates of birth, and contact information of most of its personal, mortgage trust and small business banking customers, as well as customers of its Open Banking partners. Debit card numbers were compromised for a “small portion of these individuals.”

“The affected files also included ACH transaction records, which include financial account number, routing number, and name for both payors and payees,” the notice states.

According to the transfer order, the now-consolidated cases all make similar claims about Evolve’s alleged failure to properly safeguard consumers’ personal information from unauthorized access. Consolidating the lawsuits into an MDL, Judge Gorton wrote, would “promote the just and efficient conduct of this litigation.”

Numerous lawsuits may be consolidated into an MDL when they are filed in different districts against the same party, allege similar claims and involve large numbers of people. Consolidating class actions can promote efficiency by streamlining the legal process, and an MDL can also be more cost-effective, lead to quicker resolutions and allow for more consistent rulings.

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