Report: Target Floats $10 Million Proposal To Settle Data Breach Lawsuit

Target’s 2013 data breach could cost the company $10 million, if a proposal by the retailer is approved by a Minnesota judge. A court hearing on the proposal was scheduled for Thursday.

According to an AP report, the Minneapolis-based discount chain has put forth a proposal to pay $10 million to settle a class-action lawsuit filed following the data breach. Individuals affected could received a payment up to $10,000.

The settlement, if accepted, would also require Target to name a chief information security officer, maintain a written information security program and offer security training to employees, AP said.

The data breach from two years ago exposed upwards of 40 million credit and debit card accounts and had a negative impact on sales during the 2013 holiday sales season.