Eighth Circuit reverses, remands $10 million settlement in Target data breach class action

Legal NewsLine discusses CEI’s Center for Class Action Fairness’s important ruling in their objection to the Target data breach class action settlement. 

“Over 99 percent of the Target data breach class gets nothing in this multi-million-dollar settlement, so we are glad that the Eighth Circuit recognizes that the district court cannot rubber-stamp settlements where class counsel cuts corners on procedural fairness so they can get paid quickly and generously,” said Melissa Holyoak, an attorney with the Competitive Enterprise Institute’s Center for Class Action Fairness.

She added, “Striking down $46,872 of the unlawful appeal bond is a major victory for objectors in the Eighth Circuit because it prohibits class counsel from using excessive appeal bonds to block an objector’s appeal.”

CEI attorneys represent Olson in the case.

Read the full article at Legal NewsLine