Target to Settle Security Breach Lawsuit with $10 Million Deal

According to a story from USA Today, you could get up to $10,000 dollars if you were affected by the security breach at Target last year. Target is preparing to settle a class-action lawsuit filed over the company's huge security breach where hackers gained access to 40 million accounts in 2013.

Court documents were filed Wednesday in Minnesota showing the company plans to set up a $10 million dollar fund for victims of the breach.

Victims will be eligible for up to $10,000 compensation each.

The claim form asks victims whether they used a credit or debit card at any U.S. Target store, excluding the Target.com website, between Nov. 27, 2013 through Dec. 18, 2013.

It also asks if they received a breach notice or if they believed that their personal information was compromised.

Many customers will likely not be able to prove they lost money due to hacker activities, and legal experts say there must be very clear proof of actual harm.

In the Target settlement, victims must be able to say they’ve experienced unauthorized, unreimbursed credit or debit charges, they’ve spent time addressing those charges, or they’ve been hit with higher interest rates or fees on their accounts among other things.