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Last year, Home Depot said it had set aside $161 million to cover the cost of the breach, but with this $25 million settlement, the total sum will now be significantly higher. In addition to settling with financial institutions and customers, Home Depot also paid at least $134.5 million to a consortium made up of Visa, MasterCard, and various.
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In the latest settlement of legal claims arising out of a massive 2014 data breach at Home Depot, the retailer has agreed to pay $27.25 million to affected financial institutions. Illustrating the real-world impact of poor security practices, a two-and-a-half-year-old data breach is ultimately going.
Home Depot has agreed to pay at least $19.5 million to settle consumer lawsuits brought over a massive 2014 data breach that exposed more than 50 million customers’ data, according to multiple.
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Home Depot has agreed to pay at least $19.5 million to U.S. customers who were affected by the 2014 data breach, according to Reuters. They plan to set up a $13 million fund to reimburse shoppers for.
Home Depot is adding a $25 million settlement with banks and credit card companies to its rising data breach costs, which are nearing $200 million total. In September 2014, the retailer confirmed the massive data breach , which exposed payment card information from more than 50 million customers.
Home Depot to Pay an Additional $25 Million in Data Breach Settlement Posted 14 March 2017 The home improvement supplies retailer who experienced a massive data breach in 2014, resulting in the exposure of more than 50 million customers personal information, has agreed to pay a settlement of $25 million for damages.
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· Last year, Target agreed to pay $10 million in a settlement over a data breach it suffered in 2013 that affected at least 40 million cards. Home Depot will pay up to $19.5 million.
· The breach is one of a series of high-profile data breaches that resulted in losses of hundreds of millions of dollars to U.S. companies in recent years, including Target Corp., which agreed to pay $18.5 million to settle claims by 47 states in May, and Home Depot Inc., which agreed to pay at least $19.5 million to consumers last year.
· Home Depot has filed papers with the federal district court in Atlanta offering to pay up to $19.5 million to compensate consumers who were harmed by a 2014 data breach.