Home Depot Agrees to Settle Banks' Data Breach Claims for $27.25 Million | Practical Law
In In re: The Home Depot, Inc., Customer Data Security Breach Litigation, Home Depot, Inc. agreed to pay $27.25 million to settle claims brought by numerous banks and credit unions for negligence, negligence per se, and violations of various unfair and deceptive trade practices statutes. These financial institutions had to reimburse customers and cancel and reissue compromised payment cards as a result of a data breach Home Depot experienced from April to September 2014. Home Depot also agreed to implement certain data security measures to reduce the risk of a future data breach.