Michaels Stores Data Breach Settlement
On April 17, 2013, Judge Thomas M. Durkin of the United States District Court for the Northern District of Illinois granted final approval to the nationwide class settlement in In re: Michaels Stores Pin Pad Litigation. In May 2011, Bursor & Fisher, P.A. filed the first class action against Michaels Stores concerning the data breach that resulted in the unauthorized release of customers’ financial data. The settlement, which was negotiated by Bursor & Fisher partner Joseph I. Marchese, will reimburse Michaels customers for monetary losses arising from the data breach, and will also provide free credit monitoring services for early detection of identity theft and credit fraud.
“We are very proud of this Settlement and pleased with the outcome of this case,” said Mr. Marchese. “This is a significant victory for customers affected by the data breach. And the settlement also requires Michaels to implement strict new security measures to protect customers against similar breaches in the future.”