On april 28 2017 the plaintiffs in the home depot case filed an unopposed motion for preliminary approval of a settlement of the derivative lawsuit. Home depot settles data breach derivative lawsuit posted on july 19 2017 by aaron shields in business insurance cyber security risk management between 2014 and 2015 several companies that experienced high profile data breaches were served with cybersecurity related d o lawsuits.
A copy of the motion can be found here.
Home depot security breach 2017. Home depot credit card security breach could cost 3b the company said the previously unknown variety of malware may have been in its payment systems from april to september of this year. On the consumer side home depot last year agreed to a 19 5 million settlement to affected customers that included a 13 million cash fund as well as credit monitoring services. Data security march 10 2017 home depot to pay 27m over data breach the settlement with affected financial institutions brings home depot s total payouts related to the massive 2014 hack to around 180 million.
Home depot has stated that so far the costs related to the breach and the recovery efforts have reached approximately 62 million. Cost of a retail data breach. Illustrating the real world impact of poor security practices a two and a half year old data breach is ultimately going to cost the diy purveyor as much as 179 million and possibly much more once legal fees and any other undisclosed payouts are taken into account.
Home depot confirmed thursday that hackers exposed 56 million credit and debit cards during its months long security breach. However these figures are expected to increase as time. But recently a tipster.
Mike blake reuters. It s been awhile since hackers broke into home depot s servers and stole 56 million customers credit card information back in 2014. Video player is.
179 million for home depot mar 14 2017 cybersecurity news when considering how much to invest in cybersecurity defenses be sure to bear in mind the potential cost of a retail data breach. According to the motion the parties reached a settlement of the case pursuant to which home depot agreed to adopt certain cyber security related corporate governance reforms. The company also said it had eliminated the malware behind the attack.