TJX Cos. and nearly all the banks and bank associations that sued the discount retailer over a massive credit card data breach said Tuesday they have settled the lawsuit for an undisclosed amount. Although both sides said the settlement total would remain confidential, TJX said the costs were covered by a $107 million reserve it set aside. That money will also cover the costs of another breach agreement with Visa Inc. The breach exposed at least 45.7 million credit cards to possible fraud.
December 19, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
TJX Cos. and nearly all the banks and bank associations that sued the discount retailer over a massive credit card data breach said Tuesday they have settled the lawsuit for an undisclosed amount.
Although both sides said the settlement total would remain confidential, TJX said the costs were covered by a $107 million reserve that it set aside against its second-quarter earnings.
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