Target (TGT) Enters Proposed Settlement in Card Breech
Tweet
Share
E-mailGet Alerts TGT Hot Sheet
Join SI Premium – FREE
Target (NYSE: TGT) is said to agree to pay $10 million in a proposed settlement of the massive credit card breach it experienced in late 2013.
Reuters said that Target will deposit the amount into an interest-bearing escrow account and will pay individual claims up to $10,000 in damages. The settlement still requires federal court approval.
Target will also need to adopt and implement verious security measures, like appointing a security chief and keeping a written information security program.
Shares of Target are indicated lower in early trading.
Create E-mail Alert Related Categories
Insiders' Blog, LitigationSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
