Published on July 1st, 2015 | by William Charles1
Target Data Breach Class Action Settle: Receive Up To $10,000
- You can receive a settlement up to $10,000 if:
- You made a purchase using a debit or credit card at Target between 11/27/13 and 12/18/13
- You provided your contact information to Target any time before December 18th, 2013
- Your bank, credit card company, or other financial institution issued you a new credit or debit card shortly after December 2013; and the letter accompanying the new card said that your old card may have been compromised
The Fine Print
- Total settlement pool is $10,000,000 (Target will also pay all attorneys fees, costs, and expenses and the costs of notifying the class and administering the settlement)
- Need to claim before July 31st, 2015
There are basically two types of claims you can make,
- If you can document your losses then you will receive reimbursement of up to $10,000.
- If you can’t document your losses then you’ll receive an equal share of the settlement pool, once the people who were able to document their losses have receive their compensation.
For example, let’s say 5,000 people file claims with documentation and all receive the full $10,000 and then another another 10,000 people file claims. The first 5,000 people will take $5,000,000 from the settlement pool, leaving another $5,000,000 for people without documentation, because there are 10,000 of them they will each receive $5,000.
Now obviously the chances of only 10,000 people filing claims without documentation is basically zero (I suspect there will be a lot, lot more), so if you don’t have documentation you likely won’t receive much. I still think it’s worth filing out the claim form, especially if you can document losses.
Below is a list of what you can claim for losses:
- Unauthorized, unreimbursed charges on your credit or debit card;
- Time spent addressing unauthorized charges on your credit or debit card;
- Costs to hire someone to help correct your credit report;
- Higher interest rate on an account or higher interest fees that you paid;
- Loss of access or restricted access to funds;
- Fees paid on your accounts (such as late fees, declined payment fees, overdrafts, returned checks, customer service, or card cancellation or replacement);
- Credit-related costs (such as buying credit reports, credit monitoring or identity theft protection, or costs to place a freeze or alert on your credit report);
- Costs to replace your driver’s license, state identification card, social security number, or phone number; or
- Other costs or unreimbursed expenses as a result of the Target Data Breach.
If you’re not familiar with class action lawsuits and settlements, I’d recommend reading our introduction first. Also keep in mind if you participate in this class action you’re giving up your right to sue as an individual. You can view more class actions here.