Summary of Mr. Cooper Denies link Between Cyber Attack and PII on Dark Web

TLDR:

• Mr. Cooper denies claims of a link between a ransomware attack and leaked personal identifiable information (PII) on the dark web.
• Plaintiffs in a class action against Mr. Cooper allege negligence in protecting customer PII and report ongoing consequences for impacted individuals.

Summary

Mr. Cooper is disputing claims that a ransomware attack in October is connected to customers’ PII being leaked on the dark web, as alleged in a class action against the company. The lawsuit accuses Mr. Cooper of negligence in protecting customer PII, but the company claims to have robust cybersecurity practices and protocols in place.

Despite ongoing consequences reported by plaintiffs, including spam and fraudulent credit card activity, Mr. Cooper maintains that there is no concrete evidence of personal data being on the dark web. The company is set to file a motion to dismiss the class action, challenging the plaintiffs’ standing to state a claim.

The plaintiffs’ amended complaint outlines how each member was impacted by the cyber breach, alleging injury to Mr. Cooper customers. While the company asserts that the alleged injury has no coherent connection to the data stolen, the plaintiffs claim that incidents like unauthorized account withdrawals demonstrate harm to individuals.

Mr. Cooper, which has incurred expenses related to the incident, is firm in its belief that plaintiffs are not entitled to relief in the lawsuit. However, the company is open to settlement discussions at the appropriate time. The lawsuit also sheds light on potential vulnerabilities in cybersecurity practices, highlighting the need for companies to implement and maintain stringent security measures to protect customer data.