In re: The Home Depot, Inc.,
Customer Data Security Breach Litigation

Case No.: 1:14-md-02583-TWT

On September 22, 2017, the Court granted final approval of the Home Depot Financial Institution Settlement. The Settlement Administrator is currently reviewing the claims information that has been submitted and will be processing Claim Forms over the next several months. It is estimated that all claims processing will be completed by the end of first quarter of 2018, and that payments to eligible Class Members will be issued. If any additional information is needed regarding your submitted Claim Form, you will be notified.


If your financial institution issued payment cards that were subject to card brand alerts as a result of the 2014 Home Depot data breach, it could get a payment from a class action settlement.

Important Dates

July 12, 2017 - Deadline to Postmark Requests for Exclusion

July 12, 2017 - Deadline to Postmark Objections

September 14, 2017 - Deadline to File Claim Form (postmark and electronic submission deadline)

September 22, 2017 at 11:00 a.m. - Final Approval Hearing

A settlement has been proposed to resolve lawsuits against Home Depot U.S.A., Inc. and The Home Depot, Inc. (collectively, “Home Depot”) brought by financial institutions seeking to recover damages resulting from the payment card data breach announced by Home Depot in September 2014 (the “Data Breach”).

The lawsuits, referred to as In re: The Home Depot, Inc. Customer Data Security Breach Litigation, Case No. 1:14-md-2583-TWT (N.D. Ga.), assert that Home Depot is legally responsible for the Data Breach because it failed to maintain adequate data security practices and its failure to do so was negligent, negligent as a matter of law, and in violation of several states’ unfair and deceptive trade practices statutes. Home Depot denies these allegations and that it is liable in any amount to the financial institutions.

Under the settlement, Home Depot will pay $25,000,000 into a Settlement Fund to be distributed to eligible Settlement Class Members who timely submit valid claims. All class members are eligible to receive a fixed payment estimated to be $2 for each payment card that was alerted-on as a result of the Data Breach without providing any documentation of their losses. Class members who provide documentation also are eligible to recover up to 60 percent of their uncompensated losses.

Home Depot also will pay up to $2,250,000 to compensate certain independent Sponsored Entities whose legal claims against Home Depot were released by their non-affiliated sponsors in 2015 as part of the MasterCard ADC program and that certify they did not have sufficient time or information to appropriately consider the Alternative Recovery Offer from MasterCard when originally presented with it. Sponsored Entities that file a valid claim will receive up to $2 for each eligible payment card that was released.

In addition, Home Depot has agreed to improve its data security practices to reduce the chances of a future data breach and to pay separately the costs of notice, administration and, if approved by the court, reasonable attorneys’ fees and expenses. Service awards of up to $2500 to each class representative will be paid out of the Settlement Fund if approved by the court

Your financial institution’s legal rights are affected whether you act or don’t act. Read the Notice carefully.

Your Legal Rights And Options In This Settlement

SUBMIT A CLAIM FORM

If eligible, your financial institution will receive a cash payment. This is the only way to get compensation from the settlement.

You may submit your Claim Form electronically by clicking here. Or you may download a Settlement Fund Claim Form by clicking here and a Sponsored Entities Claim Form by clicking here.

EXCLUDE YOUR FINANCIAL INSTITUTION

If you ask to be excluded, you will not receive a cash payment, but you may be able to file your own lawsuit against Home Depot for the same claims. This is the only option that leaves your financial institution the right to file its own lawsuit against Home Depot for the claims that are being resolved by this settlement.

Click here for more information on how to exclude yourself from the Settlement.

OBJECT

Your financial institution can remain in the class and file an objection telling the Court why you do not like the settlement. If your objections are overruled, your financial institution will be bound by the settlement.

Click here for more information on how to submit an objection to the Settlement.

DO NOTHING

Get no compensation and forfeit your financial institution’s right to ever sue Home Depot to recover for the losses it suffered from the Data Breach.


Your rights and options—and the deadlines to exercise them—are explained in the Notice.

The Court in charge of this case still has to decide whether to approve the settlement. Payments will be made if the Court approves the settlement and after any appeals are resolved. Please be patient.



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