data breach costs News

Legal Experts See Room for Deal in Equifax Data Breach Lawsuits

Equifax Inc. could get away with paying a mere $1 per person after failing to protect almost half of America’s credit data. While the 118-year-old credit-reporting firm has been hit with more than 100 consumer lawsuits over its massive security …

Adultery Site Ashley Madison to Pay $11.2 Million for User Data Breach

The owner of the Ashley Madison adultery website said on Friday it will pay $11.2 million to settle U.S. litigation brought on behalf of roughly 37 million users whose personal details were exposed in a July 2015 data breach. Ruby …

In Biggest Data Breach Settlement Yet, Anthem to Pay $115 Million

Anthem Inc., the largest U.S. health insurance company, has agreed to settle litigation over hacking in 2015 that compromised about 79 million people’s personal information for $115 million, which lawyers said would be the largest settlement ever for a data …

Target to Pay $18.5 Million to Settle States’ Claims from 2013 Data Breach

Target Corp. on Tuesday agreed to pay $18.5 million to settle claims by 47 states and the District of Columbia and resolve a multi-state investigation into the retailer’s massive data breach in late 2013. The investigation — led by the …

Over-Compensating Data Breach Victims Can Backfire

Compensation in response to a data breach is most effective when it meets customers’ expectations for what is appropriate, according to a new study by information systems researchers at the University of Arkansas. Such data breaches encompass privacy, information and …

Integro Launches Cyber Risk Practice Focused on ‘Knowledge Assets’

International broker and risk management firm Integro Insurance Brokers has started a new cyber risk practice focused on exposures beyond the commonly accepted definition of data or ‘knowledge assets.’ According to James Sheehan, Cyber Risk practice leader, the exposure created …

Banks Scuttle MasterCard Settlement with Target Over Data Breach

A proposed $19 million settlement between MasterCard Inc. and Target Corp. over the retailer’s 2013 data breach fell through after not enough banks accepted the deal, the credit card company said on Thursday. The agreement, announced in April, would have …

Target to Pay MasterCard Banks $19M to Settle Data Breach Claim

Target Corp. said it had agreed to reimburse about $19 million to financial institutions that had issued MasterCard-branded cards that were a part of the massive data breach at the retailer in 2013. The amount under the settlement with MasterCard …

Target Agrees to Pay $10 Million to Settle Consumers’ Data Breach Claims

Target Corp has agreed to pay $10 million in a proposed settlement of a class-action lawsuit related to a huge 2013 data breach that consumers say compromised their personal financial information, court documents show. Under the proposal, which requires federal …

Staples Still Tallying Costs of Data Breach

Staples Inc., the world’s largest office-supply chain, said it can’t yet “reasonably” estimate the potential losses and expenses it will incur in connection with the possible credit-card data breach disclosed last month. While the company said it believes the malware …