BMO and Simplii Financial Privacy Breach

Active Action

Siskinds LLP and JSS Barristers commenced a proposed class action against Canadian Imperial Bank of Commerce (“CIBC”) and a proposed class action against Bank of Montreal (“BMO”). The proceedings, filed in the Ontario Superior Court of Justice, arise from the recently disclosed cybersecurity breaches involving CIBC’s direct banking division, Simplii Financial, and BMO. According to the defendants, the data breaches resulted in the theft of sensitive personal information of up to 40,000 clients of Simplii Financial and up to 50,000 clients of BMO.

The class actions, brought on behalf of the affected clients of Simplii Financial and BMO, allege that each bank failed to establish robust security measures reasonably required of it to protect its clients’ personal information. The lawsuits seek general, compensatory, consequential and punitive damages on behalf of the affected Simplii Financial and BMO clients.

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Developments

August 23, 2018: The law firms of Siskinds LLP, Sotos LLP and JSS Barristers have formed a national consortium to litigate the proposed class actions brought against BMO and CIBC’s Simplii on behalf of a proposed national class of the banks’ affected clients.  The class proceedings will be litigated in Ottawa, and the certification motions in the Ottawa actions have been scheduled for October 2019.  Accordingly, by Orders of the Honourable Justice Perell of the Ontario Superior Court of Justice at Toronto, the actions initially commenced at Toronto have been stayed such that the proceedings will be pursued in Ottawa.  Updates regarding the Ottawa actions will be provided as they become available.

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