Update: Schnucks agrees to proposed settlement over data breach
Kavita Kumar reports:
Schnuck Markets has agreed to a proposed class-action settlement stemming from the breach of its computer systems in which an estimated 2.4 million payment cards were compromised.
The preliminary settlement was presented to St. Louis Circuit Judge David Dowd on Wednesday afternoon. He is expected to rule on it in the coming weeks.
He also is considering a motion to intervene in the case by a lawyer pursuing one of the related federal lawsuits still pending. The lawyer, Matt Armstrong, argued at the court hearing that the proposed settlement may not be a good deal for consumers.
Read more on St. Louis Post-Dispatch. This proposed settlement sounds like a much better deal than most customers usually get in one of these lawsuits as it includes reimbursement (at $10/hour) for up to three hours for time spent dealing with the breach, reimbursement for bank fees, late fees, etc., and instances of identity theft loss. Overall, reimbursing customers $10/per customer doesn’t sound great, but it is better than what we usually see.