(Bloomberg) — Target Corp. agreed to settle with more than 100 million customers whose personal information may have been breached in a database hack in 2013, among the biggest to hobble retailers and banks in recent years.
Others victimized by cyber assaults include global companies such as JPMorgan Chase & Co., Home Depot Inc. and Sony Corp.
Lawsuits against Target multiplied in the weeks following its disclosures in December 2013 and January 2014 that credit-and debit-card data for 40 million customers was stolen and that home and e-mail addresses for as many as 70 million people were compromised. The suits were consolidated before a judge in St. Paul, Minn., who must approve the current settlement creating a $10 million fund to compensate victims.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
