TJX Settlement Statement 6/23/09

a group of 41 Attorneys General, led by the Office of Massachusetts Attorney General Martha Coakley, announced a settlement with the Framingham-based TJX Companies, Inc. (TJX) The Assurance of Discontinuance between the parties, filed in Suffolk Superior Court today, resolves claims relating to TJXs failure to appropriately protect its customers financial information and to guard against a massive data breach that placed thousands of consumers personal data at risk, nationwide. TJX has agreed to pay $9.75 million to the states and to implement and maintain a comprehensive information security program, designed to safeguard consumer data and address any weaknesses in TJXs systems in place at the time of the breach. Under the terms of the settlement, Massachusetts will receive approximately $951,000 to aid efforts to protect consumers personally-identifiable information and to cover the costs of the investigation. TJX cooperated fully with the multistate investigation.

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