The notices, which went out Friday, explain how eligible individuals can apply for benefits under an agreement reached in September that settled a number of class-action lawsuits brought on by customers of the Framingham, Mass.-based discount retailer.
The settlement, which is still awaiting July 15 court approval, ruled that customers who used credit cards during the time of the intrusion and who suffered costs related to the breach will receive store vouchers valued at US$30 to US$80. TJX said some 45.7 million records were compromised in the breach, but credit card companies have listed that number closer to 100 million.
In addition, TJX, operator of hundreds of Marshall's and T.J. Maxx stores, also announced plans to hold a future three-day sale during which prices will be reduced by 15 percent for all customers.
TJX also agreed to offer three years of credit monitoring to some 455,000 people who returned merchandise to stores without a receipt and who had to provide their driver's license numbers, thus increasing the chances of identity theft.
"We believe the proposed settlement of the customer class actions offers an excellent resolution for our customers, addressing the different ways that they have told us that they have been impacted by the computer intrusion," TJX President and Chief Executive Officer Carol Meyrowitz said in a Friday letter to customers posted on the company's website.
See original article on scmagazineus.com
TJX customers to claim eligibility for breach settlement
By Dan Kaplan on Mar 5, 2008 10:28AM