The Consumer Plaintiff Class Settles with Target for a Package Including $10 million
On March 19, 2015, Target and the class of consumer plaintiffs which sued following the December 13, 2013 data breach filed a motion seeking approval of their settlement. Among other things, the settlement calls for Target to create a $10 million settlement fund from which class members who prove documented losses would be made reimbursed. Class representatives would receive an award for their “service” to the plaintiff class, and the balance distributed to class members who submit a “self-certification” claim.
Target also agreed to certain non-monetary measures, including:
- The appointment of a chief information security officer
- The maintenance of a written information security program, which will document potential security risks, and develop metrics to measure the security of its systems
- Offering security training to "relevant" workers that educates them about the importance of safeguarding personal identifying information