Eddie Bauer faces $9.8M tab for data breach

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Eddie Bauer faces $9.8M tab for data breach

Post by IceCube » Thu May 16, 2019 10:45 pm

Eddie Bauer has agreed to a settlement with Iowa financial institution Veridian Credit Union to dispense with a class action lawsuit over a 2016 data breach, according to documents filed in the U.S. District Court for the Western District of Washington. In all, the company could expend some $9.8 million, according to the documents.

The outdoor apparel retailer will pay a minimum of $1 million and a maximum of $2.8 million in settlement distributions, plus up to $2 million to cover attorney fees and other costs, according to the filing. The retailer also expects to spend approximately $5 million taking steps to ensure that its payment and cybersecurity systems are safe, according to the agreement.

While the cost of settling the matter is steep, the retailer admits no wrongdoing, according to the filing. Eddie Bauer didn't immediately return Retail Dive's request for comment. Veridian confirmed that the matter was settled but declined to confirm details.

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