The parent company of TJ Maxx and Marshall’s has reached a settlement with several states related to a 2005-2006 data theft that exposed millions of payment card numbers to hackers, according to The Palm Beach Post.
Reportedly, the Mass. based company will pay $2.5 million to create a data security fund as well as $5.5 million and $1.75 million to cover expenses related to several state investigations of the incident.
The company, TJX, stated that it believed it did not violate any consumer protection or data security laws, and that the decision to enter into the settlement reflects their desire to concentrate on business without distractions and to promote data security measures for the benefit of all consumers.
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