Those affected by Target’s debit and credit card breach will be pleased to know that the Target Corporation will shell out $10 million to settle a class-action lawsuit due to the fallout from the 2013 data breach, reports Reuters. The settlement terms include the fact that Target will deposit the $10 million into an account that accrues interest and pay certain individuals affected by the breach up to $10,000 each.
Of course, those who were affected by the Target breach have to submit claims to receive their rightful portion of the settlement funds, which will be entered and processed via the web to a site that has been dedicated for such a purpose. Previously, the measure needed court approval, and now that a judge has given the okay to the $10 million settlement for the Target data breach, as reported by CBS Local, the next steps for data breach victims to reclaim their monies is simply a matter of using the tricks of a journalist to be among the first to uncover the claim forms, process, and procedure for getting their money.
First off, the Target Press Room is a good place to begin, and signing up for Target newsletters to be emailed to you could be the first line of defense in finding out first how the claims process will work.
Of course, if you were one of the Target customers who received the email with the subject line that stated “Unfortunately, your debit card or Chase Liquid card is at risk by the breach at Target stores” (or including another bank’s form of payment used at Target stores) — and later received information directly from Target themselves, the retailer may contact you directly. Of course, it helps to be proactive and beware of phishing scams, however.
The Target breach from November 27 to December 15 was the largest scale data breach experienced by the retailer. Therefore, the process for claiming funds could also potentially readily be found by setting up a Google Alert with specific information about the case, known as “Target Corporation Customer Data Security Breach Litigation, U.S. District Court, District of Minnesota, No. 14-md-02522” officially.
A Target spokeswoman, Molly Snyder, released a statement about the company’s pleasure at the breach resolution coming to an end.
“We are pleased to see the process moving forward and look forward to its resolution.”
As reported by the Inquisitr, Target has reported the closure of stores in Canada.
[Image via ABC News]