Target poised to settle breach for $10 million

[InfoSec News <alerts () infosecnews org>]

http://www.usatoday.com/story/money/business/2015/03/18/target-hack-breach-10-million/24991847/

By Jay Knoll
KARE-TV
March 19, 2015

MINNEAPOLIS – Target Corp. is poised to settle a class-action lawsuit 
filed following the retailer's massive data breach in 2013, court 
documents filed Wednesday in Minnesota show.

A $10 million dollar fund will be established for victims of the breach, 
the 97-page settlement says.

Victims will be eligible for up to $10,000 compensation each.

Some aspects of the proposed class action settlement appear unique, said 
Mark Melodia, founder of the information technology, privacy and data 
security practice at the law firm of Reed Smith in New York City.

"First, the amount of attorneys' fees contemplated by this deal is at the 
high end of the historical range, even for multi-district litigation 
proceedings," Melodia said, cautioning that he has not had time to study 
the settlement.

[...]

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