Target has proposed paying $10 million to settle a class-action lawsuit over its 2013 data breach.
Victims of Target’s massive 2013 data breach could get up to $10,000 in damages as part of a proposed $10 million settlement of a class-action lawsuit.
The proposed settlement amount, which still needs to receive federal court approval, would also require Target to implement additional data security measures, like hiring a chief information security officer, Reuters reports.
The data breach exposed the debit and credit card information — including PIN data, card numbers, card expiration dates and the embedded magnetic strip codes — of more than 40 million customers and “may have resulted in the theft of as many as 110 million people’s personal information, such as email addresses and phone numbers,” Reuters said.
According to KARE-TV, victims of the data breach are eligible to submit a claim for damages if they’ve experienced at least one of the following:
- Unauthorized credit or debit card charges that have not been reimbursed.
- Personal time spent addressing unauthorized charges.
- Costs associated with getting a credit report fixed.
- Higher interest rates or fees on accounts as a result of the breach.
- Credit-related costs.
- Costs required to replace a Social Security number, phone number or identification.
“We are pleased to see the process moving forward and look forward to its resolution,” said Target spokeswoman Molly Snyder.
In other Target news, the retailer just announced a new return policy — an apparent attempt to woo shoppers to their stores.
The new policy will allow customers up to a year (with a receipt) to return some store-branded items. The previous return policy allowed customers to receive a full refund if an item was returned within 90 days.
The new 12-month return policy covers 32 owned and exclusive brands by Target, including Archer Farms, Chefmate, Threshold, Mossimo, Cherokee, C9 Champion, and Circo.
“Our enhanced return policy offers our guests convenience we think they’ll appreciate, while providing additional assurance of the quality of owned and exclusive brands found only at Target,” said Kathee Tesija, Target’s chief merchandising and supply chain officer, in a statement.
The new 12-month return policy also applies to unopened items from Target’s baby, college or wedding gift registry, Target said.
What do you think of the terms of the proposed class-action lawsuit? Is Target’s new return policy enough to lure some customers back to their stores? Share your comments below or on our Facebook page.