Larson LLP secured a $98 million settlement for consumers impacted by online mortgage lender loanDepot’s 2024 data breach.
In early 2024, hackers used a ransomware attack to access loanDepot’s systems, stealing sensitive client data including phone numbers, social security numbers, and dates of birth. Approximately 16.6 customers were impacted, leaving them more vulnerable to identify theft, scams, and spam.
Partner Stephen G. Larson was appointed co-lead counsel of the class in 2024. The settlement provides class members with monetary compensation, reimbursement for out-of-pocket costs up to $5,000, and two years of free identity-theft monitoring. loanDepot also agreed to implement additional protections and protocols to protect consumer data going forward.
In addition to Stephen Larson, the team representing the class includes partner Daniel R. Lahana and associate Jina Yoon.