Ca: Court approves data breach settlements with BMO, CIBC
James Langton reports:
An Ontario court has approved proposed class action settlements with Bank of Montreal (BMO) and CIBC over cybersecurity breaches involving thousands of clients.
The Superior Court of Justice endorsed settlements and distribution plans designed to resolve lawsuits against the banks stemming from a data theft that affected more than 10,000 clients of CIBC’s Simplii Financial unit and more than 113,000 BMO clients in 2018.
Read more on Investment Executive.