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$39M Settlement Reached in Target Data Breach Class Action

This is a settlement for the Target Data Breach Class Action Lawsuit Filed lawsuit.

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Santa Clara, CA: Target Corp has reached a settlement agreement with a class of banks suing the discount retailer over the massive 2013 Target data breach in which hackers compromised over 40 million Target payment cards used during a three-week period over the 2013 holiday season. The settlement is the first class-wide data breach pact ever reached on behalf of financial institutions.

According to the settlement terms, Target will pay up to $20.25 million directly to settlement class members. This will also include costs for the notice and administration of the settlement. In addition, Target will make a $19.1 million payment to fund MasterCard's Account Data Compromise program relating to the breach, according to court documents. Finally, Target has also yielded to forfeiting its right to challenge MasterCard's assessment of breach liability.

The settlement will apply to all US financial institutions that issued payment cards identified as having been at risk as a result of the data breach of more than 40 million payment cards used at Target in late 2013 and that did not previously release their claims against the retailer by signing onto separate deals with card brands Visa Inc. and MasterCard Inc.

A final approval hearing is expected to be held next year. The case is In re: Target Corp. Customer Data Security Breach Litigation, case number 0:14-md-02522, in the U.S. District Court for the District of Minnesota.

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Reader Comments

Posted by

on
I signed up for the lawsuit on time but still haven't received anything

Posted by

on
Is this still open as i had to change cards because of it

Posted by

on
Please add me to the suit, i used my bank cards at target in San Jose and have had to have them replaced several times because of the breach.

Posted by

on
I just got my new Target card and used it when this happened

Posted by

on
I received an email and free credit monitoring as a result. AM I still eligible for settlement?

Posted by

on
As a result of the security breech, as I was one of the people who used there cards. Yes more than just my target card, and it caused cards to be put on hold with no notice and I ended up with over $6,000.00 in fraudulent charges. Way to go. What has to be done to be a part of the suit???

Posted by

on
I was affected by this breach.I used my debit card through target during those dates do i have to do anything

Posted by

on
Same happened to me couldn't even pay my bills on time due to this inconvenience. Sucks we get nothing in return.

Posted by

on
My mother used her debit card during this time at Target and her bank notified her of the breach. Is this lawsuit only for persons who used their Target credit card or is it for the persons who used other cards as well?

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