Judge gives early OK to Target breach settlement

The amount Target Corp. will pay to settle claims from consumers damaged by a 2013 data breach is big relative to similar cases, but only a small percentage of the tens of millions of people whose information was exposed will likely receive a piece of it, legal experts said Thursday.

A federal judge in St. Paul on Thursday gave preliminary approval to the $10 million settlement reached by Target and plaintiffs’ attorneys in a class-action lawsuit.

The payout is a small sliver of the $252 million in expenses the Minneapolis-based retailer has said it expects to pay because of the data breach in which shoppers’ financial and personal information was hijacked during the 2013 holiday shopping season.

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