Breaking News: Target to Settle Data Breach Claims of Visa Card Issuers for $67 Million
Target has announced that it has entered into a settlement with Visa to resolve claims of issuers of Visa credit and debit cards arising from Target’s November 2013 data breach. The proposed settlement will pay issuers of Visa payment cards up to $67 million to reimburse losses associated with the theft of card numbers from Target POS terminals. Unlike an earlier proposed $19 million settlement with MasterCard, the Visa settlement does not require card issuer approval. The MasterCard settlement agreement terminated in May 2015 for failure to gain the required approval of issuers of 90% or more of the affected cards. Additional details of this settlement will follow as they become available.
Authors
Kevin M. McGinty
Member / Co-chair, Class Action Practice
Kevin is a member of the firm's Health Care Enforcement Defense Group and has significant experience representing health care–related entities in a variety of litigation matters, including contract, regulatory, False Claims Act and class action lawsuits. Kevin's health care industry clients have included pharmacies, PBMs, hospitals, clinical laboratories, diagnostic imaging providers, pharmaceutical companies and managed care organizations.
Cynthia J. Larose
Member / Co-Chair, Privacy & Cybersecurity Practice
Cynthia J. Larose is Chair of the firm's Privacy & Cybersecurity Practice, a Certified Information Privacy Professional-US (CIPP-US), and a Certified Information Privacy Professional-Europe (CIPP-E). She works with clients in various industries to develop comprehensive information security programs on the front end, and provides timely counsel when it becomes necessary to respond to a data breach.