The Lyon Firm Files Class Action Flagstar Bank Data Breach Lawsuit
UPDATE: The Lyon Firm has filed a class complaint against Flagstar on behalf of a plaintiffs who alleges the bank failed to protect sensitive personal information of clients nationwide.
The Lyon Firm is actively involved in class action personal privacy and data theft cases and is currently investigating Flagstar data breach claims on behalf of plaintiffs nationwide.
Flagstar Bank, the primary subsidiary of Flagstar Bancorp, is a bank headquartered in Michigan and one of the largest residential mortgage servicers in the country. It is among the largest banks in the United States.
According to reports, over 1.5 million individuals may be impacted by a security incident that may have compromised sensitive personal information.
In December 2021, Flagstar experienced a cyber incident that involved unauthorized access to their network. Flagstar started to investigate the data theft event with the assistance of third-party forensic experts and discovered on June 2, 2022 that certain impacted files containing personal information were accessed and/or acquired from their network between December 3, 2021 and December 4, 2021.
What Information was Involved?
The compromised information in the Flagstar data security incidents may include the following:
- Social Security number
- Financial information
Joe Lyon is a highly-rated data breach lawyer and Privacy Attorney representing plaintiffs nationwide in class action security breach lawsuits.
Can You Sue following the Flagstar Data Breach?
Entities that collect and store data have a duty to protect personal information to the best of their ability. When they are negligent, and a data theft incident occurs, they may be liable for the following:
- Improperly monitoring data security systems for existing intrusions
- Not ensuring that vendors with access to computer systems and data employ reasonable security procedures
- Improperly training employees in handling emails containing personal data and maintain adequate email security practices
- Failure to implement technical policies and procedures to allow electronic data access only to individuals or software programs granted access rights
- Failure to implement procedures to review records of information system activity regularly, such as audit logs, access reports and security incident tracking reports
- Improperly protecting against reasonably anticipated threats or hazards to the security or integrity of stored data
An experienced class action privacy attorney can determine if you are eligible to file a data breach lawsuit or join a class of plaintiffs. Lawyers investigating the matter can assist in determining the following:
- Did Flagstar Bank fail to adopt security safeguards that would have prevented a breach?
- Did Flagstar notify customers as soon as it learned of the incident?
- Did Flagstar provide a complete list of all individuals impacted?
- Did Flagstar provide security in line with industry standards?
What Should You Do Following the Flagstar Data Breach?
Regardless of the reason for a security breach, victims have the right to file a claim against a company for failing to protect their information. All companies and organizations must exercise reasonable care in protecting patient information, and if they do not, they can be held liable for the damages that result, including identity theft.
Security breach plaintiffs and privacy attorneys representing plaintiffs have been able to settle multi-million dollar recoveries. If you or a loved one has received notice of an online security incident affecting you, or suspect signs of identity theft, contact a data theft lawyer for a free consultation.
Individuals can be ruined financially and emotionally, and deserve proper online security measures. But many companies and hospitals violate privacy laws and consumer rights, and thus face class action lawsuits.
After a data breach turns your life upside down, remember that you are not the only victim. There are millions of Americans who suffer from data privacy events every year, and in turn, seek legal action for compensation and to hold companies accountable for negligent security systems.
If you want more information on current data security litigation and how to file a data theft class action lawsuit, contact The Lyon Firm for a free and confidential Flagstar Bank data breach case review.