Flagstar (FLG) Stock News: $31.5 Million Data Breach Settlement Gets Final Approval

Judge Matthew F. Leitman granted final approval of the $31.5 million Flagstar Bank data breach settlement on October 5, 2026, after a hearing at which no objectors appeared, according to OpenClassActions. He overruled four written objections and dismissed the case with prejudice.

The breaches and the claims#

The settlement in Angus et al. v. Flagstar Bank (No. 2:21-cv-10657, Eastern District of Michigan) covers a January 2021 breach involving a file-sharing platform and a separate December 2021 breach. The suit alleged Flagstar failed to protect personal information and delayed notice. Flagstar denies the claims.

Claims and payments#

The claim deadline was August 11, 2026. As of September 11 the administrator had received 257,386 claims, an 11.8% rate, including 242,112 for the residual cash payment estimated at $55.11 and 43,038 California statutory claims estimated at $100 each. Documented losses are reimbursable up to $25,000, and class members receive three years of credit monitoring. Payments go out after the settlement becomes effective; no distribution date is announced.

Why it matters for the stock#

Flagstar Bank is now part of Flagstar Financial, which trades as FLG. The settlement closes a 2021 matter that predates the current ownership and is already reserved. The relevant signal for investors is the claims rate, which is a useful benchmark for other bank breach settlements in a portfolio.

Read the full case page on OpenClassActions.

Published October 21, 2026. Informational reporting, not legal or investment advice. TickerPosts and OpenClassActions.com share a founder. Settlements resolve claims without an admission of wrongdoing, and allegations in pending lawsuits are unproven.