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Wendy's to pay $50M to settle lawsuit from data breach
From: Destry Winant <destry () riskbasedsecurity com>
Date: Fri, 15 Feb 2019 00:38:52 -0600
https://www.bizjournals.com/columbus/news/2019/02/14/wendys-to-pay-50m-to-settle-lawsuit-from-data.html Wendy's Co. will pay $50 million to settle a class-action lawsuit from a data breach that hit hundreds of its franchisees. The Dublin-based company on Wednesday announced the pending agreement with financial institutions, which had alleged Wendy's failed to safeguard customer credit card information and failed to provide notice that customer information had been compromised. Wendy's said it will pay $27.5 million of the settlement costs, with the rest covered by insurance. The settlement would release Wendy's from all claims, as well as its franchisees. Wendy's in 2016 disclosed that a point-of-sale system used at several hundred of its franchised restaurants had been compromised. It blamed the data breach on malware installed through the use of “compromised third-party vendor credentials.” "We are encouraged by the progress made to resolve this case, and we believe this settlement is in the best interests of Wendy's and its shareholders," CEO Todd Penegor said in a statement. "With this settlement, we have now reached agreements in principle to resolve all of the outstanding legal matters related to these criminal cyberattacks. We look forward to putting this behind us so that we can continue to focus on growing the Wendy's brand." The company last year reached a settlement with consumers who may have been affected by that data breach. _______________________________________________ BreachExchange mailing list sponsored by Risk Based Security BreachExchange () lists riskbasedsecurity com If you wish to Edit your membership or Unsubscribe you can do so at the following link: https://lists.riskbasedsecurity.com/listinfo/breachexchange
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- Wendy's to pay $50M to settle lawsuit from data breach Destry Winant (Feb 18)