Judge Approves the $2.5 Million EY/Bank of America MOVEit Settlement on October 15, 2026 — Zero Objections, Zero Opt-Outs, but No Payment Date Announced

The final approval hearing in the Ernst & Young / Bank of America MOVEit case was not postponed. Judge Allison D. Burroughs’ order states: “on October 15, 2026, a final approval hearing was held on whether the settlement set forth in the Settlement Agreement was fair, reasonable, adequate, and in the best interests of the Settlement Class.” The same day the court docket shows the entry “Judge Allison D. Burroughs: FINAL APPROVAL ORDER entered” — Docket No. 2150 in the MOVEit multidistrict litigation and No. 39 in the individual case, Morris v. Progress Software Corporation.

The core sentence of the 10-page order: “This Court grants final approval of the Settlement, including but not limited to the releases in the Settlement and the plans for distribution of the settlement relief, including the Settlement Benefits Plan.” The court found the deal “fair, reasonable, and adequate” and noted that the parties “faced significant risks, expenses, delays and uncertainties” in continued litigation. Nobody fought it: “Zero (0) objections were filed by Settlement Class Members” and “Zero (0) opt out requests were filed.”

The order also sets the lawyers’ share. Class counsel had said in the notice they would ask for “up to one-third of the Settlement”; the court awarded $625,000 in fees — 25% of the $2,500,000 fund, by our calculation — plus $19,200 in expenses and a $2,500 service award to the named plaintiff. The case against EY and Bank of America is dismissed “on the merits and with prejudice”. Claims against Progress Software, the maker of MOVEit, are expressly not released and continue in the MDL. Our case page, the EY/Bank of America MOVEit settlement, has the full background.

Only people who filed a claim get cash. The official site was explicit: “You must complete and submit a Claim Form by October 8, 2026.” The order confirms relief goes to “Settlement Class Members submitting valid Claim Forms.” Each claimant chose one of two routes:

• Alternative cash payment: $100, no documents needed. If valid claims do not use up the net fund, “the alternative cash payments will be increased pro rata, up to $1,000.”
• Documented losses: ordinary losses up to $2,500 (including up to four hours of lost time at $25 an hour) and extraordinary losses up to $10,000. If valid claims exceed the net fund, these reimbursements are reduced pro rata.
• Plus, for anyone who asked for it: two years of three-bureau credit monitoring with identity theft insurance of up to $1 million.

How many people claimed? The last public figure is from class counsel’s September 15, 2026 final-approval brief: “4,064 Settlement Class Members have submitted claims, resulting in a claims rate of 2.04%,” a number the brief calls “preliminary.” The final count after the October 8 deadline has not been published on the settlement site. The fund is $2,500,000; after the court-approved fees, expenses and service award ($646,700 together), $1,853,300 remains before notice and administration costs, by our calculation. Neither the court nor the administrator has published a per-person amount. Any money left “180 days after the Settlement’s Effective Date” goes to extend the credit monitoring, and “No part of the Settlement Fund will revert back to Defendants.”

How can I determine if I’m eligible for a Bank of America settlement? For this one, the court certified a class of “All living persons in the United States whose Personally Identifying Information (‘PII’) was included in the files affected by the Security Incident” — the May 27–31, 2023 MOVEit incident at EY involving Bank of America customer data. The settlement agreement estimated 198,667 people; the administrator later identified 198,422 unique class members. If you are unsure, the notice says you can get free help from the administrator, RG2 Claims Administration, at 1-888-295-3216. Being in the class only pays if you filed a claim by October 8, 2026.

How long after a class action settlement is approved do you get paid? For this settlement, the documents tie payment to the “Effective Date,” not to the approval itself. The notice: “Payments will be made after the Settlement is approved and becomes final (meaning there is no appeal from the order approving the Settlement or all appeals have been rejected).” These are the dated and date-linked steps in the sources:

• October 15, 2026 — Final Approval Order entered (done).
• Appeal window — under the federal appellate rules, a notice of appeal “must be filed with the district clerk within 30 days after entry of the judgment or order appealed from.” Counted from October 15, 2026, day 30 falls on a Saturday, November 14, 2026, so the deadline runs to the next weekday, a Monday (our calculation; the court has not announced a date). The Effective Date arrives when “the time for seeking any rehearing, appellate or other review of the Final Approval Order has expired” or the settlement is affirmed on appeal.
• Within 30 days of the Effective Date — EY and Bank of America must pay the remaining $2,350,000 into escrow (they paid $150,000 earlier for notice costs).
• After the Effective Date — the administrator will “distribute payments as soon as practicable after the Effective Date.” The agreement sets no fixed payout day.
• 180 days after the Effective Date — leftover funds extend credit monitoring.
• The settlement website must stay up “until at least sixty (60) days after the Effective Date.”

As of October 16, 2026, the official site still showed its pre-hearing text and announced no payment date. Updates “will be posted on the Settlement Website, www.MoveitSettlementEYBOA.com.” We will not guess a date the parties have not given.

If you filed by October 8, 2026, there is nothing to file now. What helps: keep your mailing and email address current with the administrator so a payment can reach you. The official contacts are on the settlement site’s contact page: EY and BOA Settlement, c/o RG/2 Claims Administration LLC, P.O. Box 59479, Philadelphia, PA 19102-9479, toll-free 1-888-295-3216, email MoveitSettlementEYBOA@rg2claims.com. The official website is MoveitSettlementEYBOA.com; its online claim link pointed to claimsettlementportal.com/eymoveit, and online claims used the Claimant ID and PIN printed on your notice.

Our advice, not the administrator’s: treat any message about this settlement as genuine only if it matches those contacts. The settlement is paid from the $2.5 million fund, and the notice says of class counsel: “You will not be charged for their services.” A text or call asking you to pay a fee to release your MOVEit money, or a link to a site other than the official one, does not come from this settlement process as described in the court documents. If you missed the October 8 deadline, you are still in the class and bound by the release, but you have no claim to cash; contact RG2 directly rather than any third party offering help.

Yes — this one. Ben Morris filed Morris v. Progress Software Corporation in Boston federal court on July 15, 2024, against Progress Software, Ernst & Young and Bank of America. The notice summarizes it: the lawsuit alleged “that Defendants were negligent due to their data security practices. Defendants deny the allegations and deny that they would be found liable.” The order says the settlement is not an admission of “any fault, any wrongdoing, any violation of law, or any liability.” The case is one piece of the MOVEit multidistrict litigation before Judge Burroughs, which gathers suits against many organizations hit through the same software in May 2023. If your MOVEit notice came from a different company, this fund is not yours.

Bank of America has been sued in other, unrelated class actions too; this settlement covers only data EY handled for Bank of America in the MOVEit incident. Questions like “How much are people getting from Yahoo settlement?” concern a separate case with its own administrator: nothing in this settlement pays Yahoo claims, and those answers have to come from that settlement’s official site. For what typical data breach claims pay, see our data breach settlement calculator.