Judge Grants Final Approval of Home Depot Consumer Data Breach Settlement
Calling it an “outstanding result for the class in a case with a high level of risk,” the United States District Court for the Northern District of Georgia approved the settlement for consumers against The Home Depot, Inc., on August 24, 2016. Stueve Siegel Hanson Partners Norman Siegel and Barrett Vahle were lead counsel on the case, assisted by SSH Associate Austin Moore.
The Settlement provides significant monetary benefits to compensate consumers for out-of-pocket losses, as well as preventative relief in the form of identity theft monitoring services, and injunctive relief that “compares favorably to settlements in other data breach actions,” according to the Court.
The settlement resolves consumer claims related to the 2014 data breach that compromised the payment card information of 40 million U.S. Home Depot consumers. The settlement creates a cash fund of $13 million for customers who suffered out-of-pocket losses and provides 18 months of Identity Guard Essentials monitoring services. The settlement also compels Home Depot to improve its data security including appointing a Chief Information Security Officer, conducting regular security risk assessments, and enhancing encryption for all debit and credit card transactions in Home Depot stores.
Claims accepted through October 29, 2016, www.homedepotbreachsettlement.com