“During the quarter ended June 30, 2024, the Company recorded an accrual of $25 million in connection with class action litigation related to the Cybersecurity Incident”
Alphv/BlackCat took names, Social Security numbers, birth dates and account numbers for more than 16 million people. LoanDepot booked $26.9 million in costs, and $25 million of the bill is set aside for the class action. That works out to less than $1.60 per stolen identity. The borrowers keep the risk for life.