Class counsel for financial institutions says Target’s settlement with MasterCard is improper

targetLast week Target reached a $19 million settlement with MasterCard to reimburse card issuing banks for costs associated with the big box retailer’s 2013 data breach that affected over 100 million shoppers.

Charles Zimmerman, counsel for Umpqua Bank and other financial institutions (the proposed “FI Class”), has criticized the settlement as “a quick, early, cheap-money” attempt to find relief from the class action claims outside the MDL, which is pending in the Minnesota District Court. He says he intends to ask Judge Magnuson to block the settlement.

Steve Larson
An experienced trial lawyer who handles both hourly and contingent fee cases, Steve has expertise in class actions, antitrust litigation, securities litigation, corporate disputes, intellectual property disputes, unfair competition claims, and disputes involving family wealth. Steve regularly represents individuals and businesses in federal and state court and has obtained class-wide recovery in multiple class actions. A veteran practitioner, Steve's clients value his creative approach to resolving complex litigation matters.


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