Report: Target Close To $20M Data Breach Settlement With Master Card

By Kevin M. McGinty

According to a report published today in The Wall Street Journal, Target and MasterCard are close to reaching a settlement of the claims of MasterCard-issuing institutions in connection with Target’s 2013 data breach.  The settlement would reimburse the cost of reissuing debit and credit cards compromised by the breach, as well as a portion of the resulting fraudulent charges made using stolen payment card numbers.  A $20 million settlement would be comparable to the amount paid by TJX Cos. to MasterCard in connection with the 2008 TJX data breach.  News of a potential card issuer settlement comes less than one month after Target and class counsel filed papers seeking court approval of a proposed class settlement of consumer claims arising from that same data breach.  Sources informed the Wall Street Journal that a definitive MasterCard settlement could be announced as soon as this week.

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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.