Will Gendron
Editor in Chief
Published
June 29, 2024 3:01 PM
Updated
July 24, 2024
Planet Home Lending $2,400,000 Data Breach Settlement
Settlement Open for Claims
Award:
$100 - $10,000
Deadline:
September 25, 2024
SUBMIT CLAIM

Planet Home Lending, LLC has agreed to pay $2,425,000 to settle a class action lawsuit for alleged failure to properly secure and safeguard customers' sensitive information in a November 2023 data breach affecting 199,873 people. This information includes full names, addresses, Social Security numbers, loan numbers, and financial account numbers. This settlement aims to compensate those affected by the data incident that occurred on or about November 15, 2023.

Can I Claim an Award?

If you were sent a notice by Planet Home Lending, LLC indicating that your personal information may have been impacted by the data incident on or about November 15, 2023, you are part of the Settlement Class and may be eligible for compensation. The official settlement website provides detailed information on who qualifies as a Settlement Class Member.

To be extremely detailed, if you received a notification from Planet Home Lending, LLC about the data breach, you are automatically included in the Settlement Class. This includes individuals whose sensitive information, such as full names, addresses, Social Security numbers, loan numbers, and financial account numbers, was compromised.

  • Individuals who received a notification from Planet Home Lending, LLC about the data breach.
  • Individuals whose sensitive information was compromised, including full names, addresses, Social Security numbers, loan numbers, and financial account numbers.

What Awards Can Class Members Claim?

Settlement Class Members who submit valid claims may be eligible for various types of compensation, subject to a pro rata adjustment. The awards are designed to compensate for ordinary losses, lost time, and extraordinary losses.

To go into extreme detail, the awards are as follows:

  • Compensation for Ordinary Losses: Up to $1,500 per person for unreimbursed ordinary losses that are fairly traceable to the data incident. Documentation supporting the claim is required.
  • Compensation for Lost Time: Up to $125 for up to five hours of lost time spent dealing with the data incident, calculated at $25 per hour. An attestation and a brief description of the actions taken are required.
  • Compensation for Extraordinary Losses: Up to $10,000 per person for documented extraordinary losses due to fraud or identity theft, provided the loss is more likely than not caused by the data incident and occurred after November 15, 2023, and before September 25, 2024. Documentation is required.
  • Flat Cash Payment: Instead of selecting the above compensations, a one-time payment of $100 can be elected.

Is Proof Required to Claim the Reward?

Yes, proof is required to claim the reward. Claimants must provide documentation to support their claims for ordinary losses, lost time, and extraordinary losses.

  • Ordinary Losses: Receipts, bank statements, or other documentation showing the costs incurred.
  • Lost Time: An attestation with a brief description of the actions taken in response to the data incident.
  • Extraordinary Losses: Documentation of actual, documented, and unreimbursed monetary losses due to fraud or identity theft.

How to Claim Your Award

To claim your award, you can file a claim online. Alternatively, you can download a claim form from the official settlement website, fill it out, and mail it to the Settlement Administrator.

Ensure you submit all required documentation along with your claim form. Claims must be submitted online or postmarked by September 25, 2024.

How do I Get Paid?

If your claim is approved, you will receive your payment either by electronic payment or by paper check. Settlement Class Members with valid claims will be sent an email to select their preferred payment method. Ensure you provide a current and valid email address to receive this communication.

$2,425,000 Settlement Fund Breakdown

The settlement amount of $2,425,000 will be used to compensate Settlement Class Members who submit valid claims. The amount will also cover attorneys’ fees, costs, and service awards.

Class Counsel will file a motion asking the Court to award attorneys’ fees of up to 33.33% of the $2,425,000 Settlement Fund, plus reimbursement of reasonable costs. The Court may award less than the amounts requested. If awarded by the Court, the Settlement Administrator will pay attorneys’ fees and costs out of the Settlement Fund.

Important Dates

  • Deadline to File a Claim: September 25, 2024
  • Deadline to Opt Out of the Settlement: October 15, 2024
  • Final Approval Hearing: November 14, 2024

Why is There a Class Action Settlement?

The class action settlement was reached to avoid the risk, cost, and time of further litigation. Plaintiffs filed the lawsuit against Planet Home Lending, LLC for its alleged failure to properly secure and safeguard customers' sensitive information. The settlement aims to compensate those affected by the data incident and ensure that similar incidents do not occur in the future.

The next steps include the Final Approval Hearing, where the Court will decide whether to approve the settlement. If approved, the Settlement Administrator will begin processing valid claims and distributing payments to eligible Settlement Class Members.

Notice Letter

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Status
Open for Claims
Category
Data Breach
Settlement Amount
$2,425,000
Award
$100 - $10,000
Is Proof Required?
Proof Required
Proof Required
Days Remaining to file Claim
63
Claim Deadline
September 25, 2024
Fairness Hearing
Final Approval Hearing
November 14, 2024
Case Number
3:24-cv-127 (KAD)
Case Title
Mathis v. Planet Home Lending, LLC (In re: Planet Home Lending, LLC, Data Breach)
State
Court
Jurisdiction
Claims Administrator
Planet Home Lending, LLC Data Breach Settlement Administrator P.O. Box 2769 Portland, OR 97208-2769 1-877-554-3624 info@PHLDataBreachSettlement.com
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