New York Attorney General Eric Schneiderman said today that Target (TGT) - Get Report agreed to pay $18.5 million to settle state lawsuits over a 2013 breach of its database in which the personal information of millions of customers was compromised.
It is the largest multi-state agreement in history originating from a hack, Schneiderman said.
About 40 million credit and debit card users' information was stolen in the breach that took place during late December 2013 and January 2014 and compromised the home and email addresses of about 70 million people.
Target later stated that consumers were refunded for fraudulent charges by the card issuers, but shoppers alleged they were constrained to costly account freezes, late payment fees, and other costs.
Shares of Target were lower during afternoon trading on Tuesday.