Thursday, May 25, 2017
Target to Pay $18.5M to States Over Data Breach; Inside Counsel, May 24, 2017
P.J. D'Annunuzio, Inside Counsel;
"Deterrence was a major theme brought up by many of the attorneys general who released statements about the agreement.
The $18.5 million settlement with the states, coupled with the $10 million consumer class action settlement approved last week, may seem like a drop in the bucket for a retail juggernaut like Target, but according to Lambiras, the deterrent effect lies in the residual legal and public relations costs companies incur following a data breach.
In a statement Tuesday, Connecticut Attorney General George Jepsen said the settlement should serve as a wake-up call to companies to tighten their data security. He also gave kudos to Target for working with authorities after the breach."