Home Depot agrees to pay $25 million to settle data breach claims

March 15, 2017 by

According to a Motion for Preliminary Approval filed in a Georgia federal court, Home Depot has agreed to pay $25 million and strengthen its data security practices to resolve a putative class action brought by financial institutions after a 2014 data breach that compromised 56 million credit and debit card numbers.

It is reported that financial institutions that file a valid claim will be eligible to receive a fixed payment estimated to be $2 per compromised card. Financial Institutions that submit specific proof of losses may also be eligible for a supplemental award of up to 60% of their documented losses.

The new settlement comes about a year after Home Depot’s agreement last March to pay $13 million to a putative class of consumers’ claims over the breach.

The MDL is In Re: The Home Depot Inc., Customer Data Security Breach Litigation, case number 1:14-md-02583 in the U.S. District Court for the Northern District of Georgia.

Steve Larson
An experienced trial lawyer who handles both hourly and contingent fee cases, Steve has expertise in class actions, consumer cases, antitrust litigation, securities litigation, corporate disputes, intellectual property disputes, unfair competition claims, employment matters, and disputes involving family wealth. Steve regularly represents individuals and businesses in federal and state court and has obtained class-wide recovery in multiple class actions. A veteran practitioner, Steve's clients value his creative approach to resolving complex litigation matters.

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