Investor, TJX settle suit over data theft

Hiawatha Bray reports:

TJX Cos., which owns the T.J. Maxx and Marshalls discount retail chains, has settled an investor lawsuit related to the theft of millions of its customers’ credit card numbers.

The Louisiana Municipal Police Employees’ Retirement System, which holds shares of TJX stock, alleged that members of the TJX board of directors failed in their duty to protect customers’ personal data.

TJX announced yesterday that it had settled the lawsuit on Friday. A lawyer for the Louisiana police retirement fund, which filed its lawsuit in Delaware, where Framingham-based TJX is incorporated, did not return calls seeking comment. Bloomberg News reported the case was settled for $595,000 in legal fees and enhanced oversight of customer files.

Read more in the Boston Globe.

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