Julia Ferguson

The parties brought a motion to approve settlement agreements and distribution protocols in class actions arising from data breaches at BMO and CIBC (Simplii) that affected over 120,000 clients.

The proposed settlements provided a combined $22.9 million to compensate class members for time spent and inconvenience, with tiered compensation based on the sensitivity of the compromised information.

The court applied the Mancinelli factors and found the settlements to be fair, reasonable, and in the best interests of the class, particularly given the litigation risks associated with the tort of intrusion upon seclusion for third-party hacker intrusions.

The plaintiffs brought a motion to approve a class action settlement arising from data breaches at BMO and CIBC's Simplii Financial, which affected over 120,000 clients.

The hackers accessed personal information and demanded ransom payments.

The proposed settlement provided for a total payment of approximately $23 million, distributed among class members based on the type of information compromised and time spent addressing the breach.

The court applied the Mancinelli factors and found the settlement to be fair, reasonable, and in the best interests of the class, noting the litigation risks associated with the tort of intrusion upon seclusion for third-party hacker intrusions.