December 21, 2007
TJX Settlement Garners 95 Percent Approval
By Cory Hopkins
The $40.9 million alternative recovery payment plan offered by Framingham's TJX Cos. in the wake of January's massive computer intrusion has been approved by more than 95 percent of the financial institutions eligible for the pay-out.
Financial institutions that represent the U.S. Visa accounts hit by the breach of private credit card account information will receive a late Christmas pay-off by Dec. 27, according to terms of the deal.
Those institutions must waive certain rights to further litigation against TJX.
Consummation of the settlement was conditional on an 80 percent acceptance rate.
Financial institutions that represent the U.S. Visa accounts hit by the breach of private credit card account information will receive a late Christmas pay-off by Dec. 27, according to terms of the deal.
Those institutions must waive certain rights to further litigation against TJX.
Consummation of the settlement was conditional on an 80 percent acceptance rate.
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