MADISON, Wis. (1/11/16)--A website has been established to provide information for financial institution class members of the Target data breach litigation. Credit unions have begun receiving email and paper mail directing them to the site to file claims related to the settlement or to opt out of participation. Each credit union should review the materials to determine which course of action is most appropriate for them.
In addition to settlement terms, the website includes important dates, frequently asked questions, information on filing a claim, directions for opting out, court and settlement documents and contact information.
The U.S. District Court of Minnesota gave preliminary approval Dec. 2 to a $39 million proposed settlement reached between Target Corp. and the credit unions and other financial institutions that sued the retailer for its role in the massive 2013 data breach.
A final approval hearing has been scheduled for May 10 to determine whether the settlement should be approved as fair, reasonable and adequate.
Postmark deadlines for exclusion requests, objections and notice of intent to appear at the final approval hearing are March 1.
To qualify for a portion of the settlement funds, financial institutions must validly complete and submit either a paper or online claim form by March 22.