Prof. Vaaler Comments on Target's Legal Settlement Strategy Related to 2013 Data Breach

Professor Paul Vaaler was interviewed by WCCO Radio's Roshini Rajkumar on Target's proposed legal settlement with Visa for losses to the credit card company arising from the theft of Target customer credit card and related information in November and December 2013. Vaaler commented on the proposed $67 million settlement with Visa in light of Target's previous successful $10 million settlement with customers, and a proposed but ultimately failed $19 million settlement with MasterCard. Vaaler also speculated on the likelihood that a group of card-issuing banks and financial institutions with claims against Target might be able to form a plaintiffs' class on a motion to be argued in the U.S. Federal District Court in St. Paul next month. Target's liabilities and related expenses to date exceed $250 million.