Following its data breach in 2014, Home Depot was sued by thousands of financial institutions requesting recovery of costs associated with the issuance of new credit and debit cards to 50 million individuals affected by the breach.

Last week, an Alabama federal judge approved a proposed settlement with the financial institutions for $27.25 million.


In a surprise move late last week, Home Depot has agreed to settle a shareholders derivative suit filed against current and former members of the Board of Directors and the Chief Executive Officer and Chief Information Officer (CIO) following a massive data breach that occurred in 2014.

The shareholders allege that former and current board members breached their duty of loyalty to the company by failing to prevent the data breach or to remedy it after it occurred. The breach cost Home Depot $152 million with a total cost exposure predicted at $10 billion.

The settlement requires documenting the responsibilities of the CIO, maintaining an executive committee on data security, and transparency around the budget provided for Cybersecurity measures in the organization.
Continue Reading Home Depot Agrees to Settle Data Breach Shareholders’ Suit

A federal judge has preliminarily approved a proposed settlement of $25 million between Home Depot and financial institutions that issued payment cards that were affected by the Home Depot data breach in 2014. This proposed settlement amount is in addition to the $140 million settlement with other payment card issuers such as American Express and

Home Depot announced on March 7, 2016, that it is agreeing to settle claims against it for the massive data breach that occurred in 2014, affecting up to 56 million debit and credit card holders for at least $19.5 million, and up to $28 million, including attorneys’ fees and costs.

The settlement includes the