Target May Owe You Up To $10,000 From Data Breach

Target Corporation (NYSE: TGT) has agreed to a $10 million settlement with lawyers for its 2013 data breach, Engadget has reported. CBS News reported at the same time that the company could pay individuals up to $10,000 each in damages.

Target's spokesperson Molly Snyder told CBS that the company is "pleased to see the process moving forward" but the motion requires the approval of a federal district court judge before the company can act on it.

Target's data breach occurred in late 2013 near the peak of the holiday shopping season. Information from up to 40 million credit and debit cards were stolen in one of the largest data breaches to ever occur.

Shares of Target recently traded at $80.71, down 0.4 percent.

Image credit: ThePlaz, Wikimedia