Objector to $10M Target Breach Deal Fails to Sway Judge
"Although these class members had their financial data stolen, they are releasing future-damages claims against Target in exchange for nothing," Holyoak said.
Class Action Lawyers in Target Case Hoard the Settlement Pie
Imagine a family dinner table where Dad is deciding how large a piece of pie each of his three children get. All three children are good and deserving. But Dad first takes a generous slice for himself—more than a third of the pie—and then gives the rest to his favorite child. The rest of the kids get nothing.
Eighth Circuit reverses, remands $10 million settlement in Target data breach class action
“Over 99 percent of the Target data breach class gets nothing in this multi-million-dollar settlement, so we are glad that the Eighth Circuit recognizes that the district court cannot rubber-stamp settlements where class counsel cuts corners on procedural fairness so they can get paid quickly and generously,” said Melissa Holyoak, an attorney with the Competitive Enterprise Institute’s Center for Class Action Fairness.
Target Corporation Customer Data Security Breach Litigation
The terms of the deal provided a $10 million fund to class members that, in reality, is unlikely to be exhausted, gave class counsel a disproportionate $6.75 million fee, and left a large subclass of class members with zero recovery.
