Consumers file multiple class action lawsuits over data breach at Evolve Bank

Evolve Bank Data Breach Class Action Lawsuit Summary:

• WHO: Three people filed three separate lawsuits against Evolve Bank on the same day.
• Why: The plaintiffs allege that a threat actor stole their private information from Evolve Bank’s servers in a preventable data breach.
• Where: Two of the lawsuits against Evolve Bank were filed in federal court in Arkansas and one in federal court in Tennessee.

Consumers sued Evolve Bank in three separate lawsuits on the same day last week after cybercriminals stole customer information in a major data breach that the plaintiffs said was preventable.

Each of the three most recent class action lawsuits against Evolve Bank & Trust were filed on June 28 – two in federal court in Arkansas and one in federal court in Tennessee.

The plaintiffs sued Evolve Bank for negligence and other violations of state and federal laws after the bank was the target of a cyberattack on June 26.

Evolve conducted an investigation and found that the data breach affected customers’ names, social security numbers, dates of birth, account information, and other personal information.

“The disclosed private information of plaintiff and class members can be – and likely will be – sold on the dark web,” says a class action lawsuit filed by plaintiff Gabriel Stiritz.

Evolve Bank reckless and negligent, class action lawsuits claim

Stiritz’s class action lawsuit alleges that the bank detected the cyberattack on June 26 and subsequently notified affected customers.

The statement allegedly states that Evolve Bank was investigating a cybersecurity incident involving a known cybercriminal organization that illegally obtained data and personal information of some of Evolve Private Bank’s clients, as well as clients of its financial technology partners, and published it on the dark web.

The class action lawsuit alleges that Evolve stored customer information on the bank’s computer system and network in a state vulnerable to cyberattacks.

“Plaintiffs and class members now face a lifetime risk of identity theft, which is exacerbated here by the loss of their Social Security number – the gold standard for identity thieves,” the data theft class action lawsuit against Evolve Bank states.

Lawsuit claims: Evolve Bank waited too long to inform customers

Meanwhile, plaintiff Duncan Meadows, who filed his class action lawsuit in Tennessee, claims that Evolve Bank failed to provide him and other affected customers with timely and adequate notice of the data breach, including failure to provide information about how and when the data breach occurred and when the information was published on the dark web.

“The defendant waited until June 26, 2024 to provide minimal notice to the class, simply telling them that the breach had occurred, that their information had now been made available on the dark web by a ‘known cybercriminal organization,’ and that the information was the most sensitive (personally identifiable) information,” Evolve Bank’s class action lawsuit states.

Plaintiffs in all three cases represent classes of individuals nationwide whose private information was actually or potentially accessed during the data breach. At least five class action lawsuits have been filed against the bank in connection with the data breach.

The plaintiffs each sue for negligence, breach of contract, breach of fiduciary duty and unjust enrichment. They are seeking class action certification, damages, fees, costs, a jury trial and injunctions forcing the bank to improve its cyber and data security.

Last month a man from Georgia sues Truist Bank, He said his private data was compromised by a cyberattack on the bank’s systems.

Have you been affected by the Evolve Bank data breach? Let us know in the comments!

The plaintiffs’ attorneys are Table Law PLLC, Ellzey & Associates PLLC, Poynter Law Group, Srourian Law Firm PC, Milberg Coleman Bryson Grossman PLLC, Clayeo C. Arnold A Professional Corporation and Wucetich & Korovilas LLP.

The Develop class action lawsuits Are Gabriel Stiritz v. Evolve Bank & Trust, Case No. 4:24-cv-00550-JM, in the U.S. District Court for the Eastern District of Arkansas; Natasha Quiates v. Evolve Bank & Trust, Case No. 3:24-cv-00114-KGB, in the United States District Court for the Eastern District of Arkansas; and Duncan Meadows v Evolve Bank & Trust, Case No. 2:24-cv-02450-JPM-tmp, in the U.S. District Court for the Western District of Tennessee.

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