Target close to settling class-action for $10M

Target victims may soon be able to collect damages from the retailer if they can prove that the company's 2013 breach has caused them actual harm, after Target moved closer to settling a class-action lawsuit.

Under the proposed $10 million settlement, victims would be eligible to receive up to $10,000 each if they showed harm, including having unauthorized and unreimbursed charges on their payment cards and being hit with higher interest rates. The settlement will apply those who used a payment card at Target locations between Nov.27-Dec. 18, 2013.

Attorney Mark Melodia at Reed Smith told USA Today that settlement is unique in that attorney fees seem high and “it is unusual for a major company to agree to follow certain security practices dictated by a settlement with private class action lawyers and then imposed by a final Order of the Court."

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