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Heartland to pay up to $2.4 million to settle cardholder class action suit

Posted on December 21, 2009 by Dissent

Under the terms of the settlement, Heartland says it will pay a minimum of $1 million and up to a maximum of $2.4 million to class members who submit valid claims for losses as a result of the intrusion.

The payment processor says it will also shell out $1.5 million for the cost of notice to the settling class, and $0.76 million to cover legal fees.

Heartland has additionally agreed to submit the report of an independent expert on its plans to improve the security of its computer system since the announcement of the intrusion on January 20, 2009.

Read more on Finextra.

Related posts:

  • Heartland in $60 mln settlement agreement with Visa
  • Heartland lawsuit plaintiffs go after acquiring banks’ deep pockets
  • NYS Consumer Protection says “Action Needed in Heartland Breach”
  • Judge dismisses shareholder lawsuit against Heartland (updated)
Category: Breach IncidentsFinancial SectorOf Note

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← UPDATE: France agrees to hand back ‘stolen’ Swiss bank data
Albert Gonzalez Enters Plea Agreement in Heartland, Hannaford Cases →

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