Posted On September 26, 2022 Consumer Privacy & Data Breaches
On September 23, 2022, Diodes Incorporated reported a data breach with the Attorney General of Texas after sensitive consumer information that was entrusted to the company was leaked to an unauthorized party. Based on an official filing from the company, the incident resulted in an unauthorized party gaining access to the following data types: names, addresses, Social Security numbers, driver’s license numbers, state identification numbers, health information and insurance information. After confirming that consumer data was leaked, Diodes Inc. began sending out data breach notification letters to all individuals who were impacted by the recent data security incident.
If you received a data breach notification, it is essential you understand what is at risk. The data breach lawyers at Console & Associates, P.C. are actively investigating the Diodes Inc. data breach on behalf of people whose information was exposed. As a part of this investigation, we are providing free consultations to anyone affected by the breach who is interested in learning more about the risks of identity theft, what they can do to protect themselves, and what their legal options may be to obtain compensation from Diodes Incorporated.
News of the Diodes data breach only recently broke, and the company has not yet posted a public notice on its website explaining what led to the incident. However, the company’s filing with the Attorney General of Texas provides a few important details.
For example, upon learning of the breach, Diodes Inc. then reviewed the affected files to determine what information was compromised and which consumers were impacted. While the breached information varies depending on the individual, it may include your name, address, Social Security number, driver’s license number, state identification number, medical information and health insurance information.
Unfortunately, at this point, nothing is known about the causes of the incident or whether the breach occurred within Diodes Inc. servers or at a third party. However, it has been confirmed that information belonging to Diodes, Inc. customers has been compromised.
On September 23, 2022, Diodes Inc. sent out data breach letters to all individuals whose information was compromised as a result of the recent data security incident.
Founded in 1959, Diodes Incorporated is a manufacturing company based in Plano, Texas. The company designs and manufactures semiconductors for use in the following applications: automotive, industrial, consumer, communications and computing. Diodes, Inc. maintains operations throughout the world, including in China, England, Germany, Taiwan, South Korea and Hong Kong. Diodes, Inc. is publicly traded on the NASDAQ stock exchange under the ticker symbol “DIOD,” and is included in the Standard and Poor’s Smallcap 600 and Russell 3000 Index. Diodes Inc. employs more than 7,937 people and generates approximately $1 billion in annual revenue.
If you receive a data breach letter from Diodes, Inc., it is important that you give the situation the seriousness it deserves. While you cannot help the fact that your data was exposed in a data breach, you can take preventative steps to reduce the likelihood of becoming the victim of identity theft or other frauds. Unfortunately, the Identity Theft Resource Center reports that just 5% of data breach victims take the appropriate steps after a breach, meaning many victims end up experiencing unnecessary harm.
Below is a list of steps to take to ensure you do everything possible to prevent identity theft.
Determine What Information Was Leaked: Your first step should be to carefully read the data breach letter to identify what type of information was affected. While this list provides basic guidance on what to do following a data breach, there are specific things you’ll want to do depending on the type of information that was compromised. Also, you should make and keep a copy of the data breach notification for your records.
Stop Any Future Access to Your Accounts: Regardless of the type of information that was compromised, it is important for you to change the passwords and security questions for all your online accounts, especially your online banking credentials. Wherever possible, you should also consider setting up multi-factor authentication. While multi-factor authentication can be a minor inconvenience, it greatly reduces the chance of unauthorized access.
Protect Your Credit By Signing Up for Free Credit Monitoring: One of the primary reasons why cybercriminals carry out data breaches is to gain access to consumers’ information. After announcing a data breach, companies typically provide free credit monitoring. Taking a company up on its offer of free credit monitoring does not affect your future rights to bring a data breach lawsuit and goes a long way to keeping criminals from using your credit.
Consider a Credit Freeze: A credit freeze is an alert you can place on your credit file by contacting one of the three major credit bureaus. Once in effect, a credit freeze prevents anyone from accessing your credit without your express authorization. A credit freeze stays in place until you remove it; however, you can temporarily lift a freeze to apply for a loan. The Identity Theft Resource Center reports that placing a credit freeze is the “single most effective way to prevent a new credit/financial account from being opened.” However, a recent survey found that just 3% of people whose information is leaked placed a freeze on their accounts.
Keep a Close Eye on Your Credit Report and Bank Accounts: After a breach, you should regularly check all your bank accounts and credit card accounts for any signs of fraudulent transactions or attempted transactions. It is also important to regularly check your credit report, as this can alert you if an unknown company runs a credit check.
Contact a Data Breach Lawyer to Discuss Your Options: If your sensitive data was compromised in a data breach, the company responsible for maintaining your information could be liable financially to you for any resulting damages. These damages are designed to compensate you for the money and time you were forced to expend recovering your identity, which can be substantial.
At Console & Associates, P.C., our consumer privacy lawyers monitor all security and data breaches to help affected consumers pursue their legal remedies. We offer free consultations to victims of data breaches and can explain your rights in clear, understandable terms so you can make an informed decision about how to proceed with your case. If you’ve been affected by the Diodes Inc. data breach or any other data security incident, Console & Associates, P.C., will investigate your case at no charge and offer you thorough advice about how to most effectively proceed with your case. If you decide to bring a case, we only get paid if you do. If your claim is successful, any legal fees are either paid by the defendant or come out of the funds recovered from the defendant. If your claim doesn’t result in a recovery, you will pay nothing.