NOTICE OF PROPOSED CLASS ACTION SETTLEMENT
United States District Court for the Western District of Tennessee
In Re: Evolve Bank & Trust Customer Data Security Breach Litig.
MDL No. 2:24-md-03127-SHL-cgc
A Court has authorized this Settlement Website. This is not a solicitation from a lawyer.
If You Are A Person in the United States Who Provided Their Private Information to Evolve Bank & Trust (“Defendant”), Directly or Indirectly, and Whose Private Information Was Included in Files Affected by the Data Incident, You Are Eligible to Receive a Settlement Class Member Benefit from a Class Action Settlement.
- A Court authorized this Notice, to those that are eligible to receive Settlement Class Member Benefits from a proposed class action Settlement relating to a data security matter involving unauthorized access to Defendant’s information systems in February and May 2024, including those belonging to Defendant’s personal banking customers and Evolve FinTechs’ customers (“Data Incident”). The Action is titled In Re: Evolve Bank & Trust Customer Data Security Breach Littig., MDL No. 2:24-md-03127-SHL-cgc and is pending in the United States District Court for the Western District of Tennessee. The persons that filed the class action lawsuit are called Plaintiffs or Class Representatives and the company they sued is Evolve Bank & Trust (or Defendant). Defendant denies any wrongdoing whatsoever. All capitalized terms not defined herein are defined in the FAQ section here.
- Who is a Settlement Class Member?
All persons in the United States who provided their Private Information to Evolve, directly or indirectly, and whose Private Information was included in files affected by the Data Incident.
Private Information may include names, dates of birth, Social Security numbers, drivers’ license numbers, bank account numbers, and contact information. Excluded from the Settlement Class are (a) all persons who are governing board members of Defendant; (b) governmental entities; and (c) the Court, the Court’s immediate family, and Court staff and (d) any Settlement Class Member who timely and validly requests to opt-out from the Settlement.
- Settlement Benefits
- Credit Monitoring: Settlement Class Members may elect one (1) year of monitoring that will provide the following benefits: Credit Monitoring, real-time alerts, and insurance coverage for up to $1,000,000 for identity theft. The Credit Monitoring Settlement Class Member Benefit has a value of $110 per year per Settlement Class Member.
- Class Member Option: In addition to Credit Monitoring, each Settlement Class Member may choose one of the below options, but not both.
- Cash Payment A – Documented Losses: Settlement Class Members may submit a Claim for a Cash Payment for up to $3,000 per Settlement Class Member that includes reasonable documentation supporting the losses related to the Data Incident, upon submission of a Valid Claim and supporting documentation, for documented losses incurred as a result of the Data Incident; or
- Cash Payment B – Flat Cash: In addition to Cash Payment A – Documented Losses above, a Settlement Class Member may elect to receive Cash Payment B – Flat Cash, which is a flat Cash Payment in an estimated amount of $20.
All Settlement Class Cash Payments (Cash Payment A and Cash Payment B) will be subject to a pro rata increase from the Settlement Fund in the event the amount of Valid Claims is insufficient to exhaust the entire Settlement Fund. Similarly, in the event the amount of Valid Claims exhausts the amount of the Settlement Fund, the amount of the Cash Payments may be reduced pro rata accordingly.
- To submit a Claim Form, obtain more information, or request a Claim Form, visit here or you may contact the Settlement Administrator at (833) 421-7300, Monday through Friday 8 a.m. to 8 p.m. ET (excluding major U.S. holidays) to request a Claim Form no later than October 30, 2025.
Please read this Settlement Website carefully. Your legal rights will be affected, and you have a choice to make at this time.
| Summary of Legal Rights | Deadline(s) | |
Submit a Claim Form | This is the only way for you to receive a Settlement Class Member Benefit from the Settlement. | Submitted or postmarked on or before October 30, 2025. |
Exclude Yourself by Opting Out of the Class | You will give up your right to receive any benefits from the Settlement. This is the only option that allows you to keep your right to bring any other lawsuit against Defendant relating to the Data Incident. | Mailed and postmarked on or before October 15, 2025. |
Object to the Settlement and/or Attend the Final Approval Hearing | You can write to the Court about why you agree or disagree with the Settlement or the Application for Attorneys’ Fees, Costs, and Service Awards. The Court can only approve or deny the Settlement—it cannot order a different settlement. You can also ask to speak at the Final Approval Hearing on November 14, 2025, at 2 p.m. CT, about the fairness of the Settlement, with or without your own attorney. | Mailed and postmarked on or before October 15, 2025. |
Do Nothing | You will not receive any Settlement Class Member Benefit from this class action Settlement. | N/A |
- Your rights and options as a Settlement Class Member – and the deadlines to exercise your rights – are explained in this Notice.
- The Court still will have to decide whether to approve the Settlement. Settlement Class Member Benefits will be made available only if the Court approves the Settlement and after any possible appeals are resolved.