Heartland to pay up to $2.4 million to settle cardholder class action suit

Under the terms of the settlement, Heartland says it will pay a minimum of $1 million and up to a maximum of $2.4 million to class members who submit valid claims for losses as a result of the intrusion.

The payment processor says it will also shell out $1.5 million for the cost of notice to the settling class, and $0.76 million to cover legal fees.

Heartland has additionally agreed to submit the report of an independent expert on its plans to improve the security of its computer system since the announcement of the intrusion on January 20, 2009.

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