Target to Pay $10m in Breach Settlement

Target is planning to establish a $10 million settlement fund in the class-action lawsuit filed by consumers who fell victim because of the company’s massive data breach in 2013, court papers filed Wednesday revealed. Documents filed in the U.S. District Court in St. Paul, Minnesota, outlined the retailer’s agreement to reimburse those who were hurt financially by as much as $10,000. Victims will likely have to submit claim forms online through a dedicated website or by mail, providing “reasonable documentation showing their losses... arose from the Target data breach,” the papers said. An estimated 40 million people were exposed to the breach when hackers stole credit-card information through Target’s point-of-sale systems during the 2013 holiday season. An additional 70 million people had their personal information compromised.