Asset Manager Ducks Suit Over Breach After Voluntary Dismissal

Pingora Asset Management escaped a proposed class action brought by an individual who claimed that it and its third party subservicer, Pingora Loan Servicing, failed to take actions to prevent a data breach that exposed her personal information.

In her May 2 lawsuit, Kimberly Johnson alleged that the December 2021 breach affected thousands of individuals, exposing their names, addresses, dates of birth, Social Security numbers, and loan numbers, as well as some data regarding their loan applications. She said Pingora didn’t take reasonable measures to ensure its data systems were protected, nor did it properly monitor its computer network and ...