On April 1, 2024, FeganScott filed a class action lawsuit alleging that the California-based loan and mortgage lender loanDepot not only failed to take sufficient and reasonable measures to safeguard its data security systems and protect highly sensitive data, but that it also failed to detect and provide adequate notice to customers affected by a data breach that occurred during a January 2024 cyberattack.

The complaint details loanDepot’s failure to invest in adequate data security, which enabled hackers to steal highly sensitive personal data from nearly 17 million loanDepot customers, including their names, phone numbers, email addresses, dates of birth, Social Security numbers, and financial account numbers.

The lawsuit goes on to allege that loanDepot waited more than a month before notifying customers that their data had been stolen, virtually ensuring that the hackers could monetize, misuse, and/or disseminate the stolen personal data before the affected customers could take steps to protect themselves.

The lawsuit seeks to represent all loanDepot customers who were impacted by the data breach and aims to hold loanDepot accountable for the substantial damages these customers incurred.