Cybersecurity » Home Depot Cyberattack Costs M

Home Depot Cyberattack Costs $19M

March 17, 2016

Home Depot will pay out $19.5 million to the more than 50 million customers who suffered after the big-box home supply chain’s registers were hacked. The company will create a $13 million fund to reimburse shoppers, and spend another $6.5 million to provide a year of identity protection to impacted customers. The proposed settlement wraps up the at least 57 class action lawsuits filed against Home Depot in the U.S. and Canada after the leak was made public in September 2014. Though Home Depot was accused of ignoring warnings that its security systems were inadequate, the company would not admit any wrongdoing or take on any liability going forward under the proposed settlement’s terms. The case resulted in $8.7 million in lawyers’ fees.

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