Update: Wendy’s settles financial firms’ lawsuit over data breach for $50 mln

Dena Aubin reports:

Restaurant company Wendy’s has agreed to pay $50 million to resolve a 2016 lawsuit by financial institutions nationwide alleging that the company’s negligence allowed hackers to steal credit and debit card information in a 2015 data breach.

Disclosed in a filing on Wednesday in Pittsburgh federal court, the settlement will be paid to approximately 7,500 banks and credit unions that issued about 18 million credit or debit cards exposed in the data breach. The deal must still be approved by the court.

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