Target Offers $10 Million Settlement In Data Breach Lawsuit

Target has agreed to pay $10 million to settle a class-action lawsuit related to the company’s 2013 data breach.

Court documents show hacking victims could get as much as $10,000 apiece.

U.S. District Court Judge Paul Magnuson indicated a hearing Thursday in St. Paul, Minn., that he planned to grant preliminary approval of the 97-page settlement, The Associated Press reported.

As the Two-Way reported, Target said immediately after the breach that “as many as 40 million credit and debit card accounts may have been impacted” in the hack. But that number quickly ballooned 70 million people affected when taking into consideration other personal information that was stolen. The breach affected holiday shoppers at Target from Nov. 27 through Dec. 18 2013.

The retailer now estimates that about 42 million people had their credit or debit information stolen, according to the court documents, with the largest totals coming from California (7.8 million), Texas (3.6 million) and Florida (2.9 million).

Target also estimates that close to 61 million people had their personal data stolen. That information could include names, mailing addresses, phone numbers and email addresses.

The proposed settlement would also require the Minneapolis-based Target Corp. to implement changes to its security policies within 10 business days of the settlement becoming effective.

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