On May 28, 2018, and after the issue had been reported in the media, CIBC announced that in early 2018, cybercriminals accessed the personal information of approximately 10,000 users of its Simplii Financial services.
This personal information included users’ names, dates of birth, social insurance numbers, bank account numbers, credit and debit card numbers, and other important identifying information. In some instances, this personal information was made public; it is not known at this time what use has been made of this stolen personal information.
Jeff Bannister - represented by Siskinds LLP, Sotos LLP and Jensen Shawa Solomon Duguid Hawkes LLP - commenced a proposed class action against CIBC, in Ontario, on behalf of all clients of Simplii Financial whose personal information was accessed in the early 2018 event. The Statement of Claim alleges that CIBC breached contractual and statutory obligations it owed to class members.
The opt-out deadline for this class action has now passed.
April 20, 2021: The Ontario Superior Court of Justice approved the settlement with CIBC. The Court’s reasons can be found here.
What Happens Next?
(August 1, 2022) - Most class members have received their settlement funds by way of bank draft mailed directly from Simplii Financial. If you believe that you are a class member and you have not received your settlement funds, please update your address by contacting us right away at firstname.lastname@example.org