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Malware On Gamestop's Website = $306 Million Gamestop Settlement Consider The Consumer

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$306 Million Gamestop Settlement Stems From Malware on Website

Malware On Gamestop’s Website = $306 Million Gamestop Settlement

It’s been reported that a certain malware on Gamestop’s website allowed hackers to access customer payment card information. In April of 2017 Gamestop reported that hackers installed malware on the company’s website at some time during August 2016. All the way through February of 2017, these hackers gained access to the information of potentially 1.3 million payment cards. The Gamestop settlement will total an estimated $306 million payout.

Two months after this, Gamestop notified customers who made purchases during this time period. The company reports now, that, after an investigation, there was not any evidence that payment card data had been accessed. The statement did mention the possibility for fraudulent transactions.

Two customers, though, Crystal Bray of Fayetteville, N.C. and Samuel Cook of Indianapolis, Ind., made purchases from the Gamestop website prior to April 2017 and later found several fraudulent transactions on their account dated on or before June 2017 totaling over $7,600. These two customers later filed what would be consolidated as a class action lawsuit against Gamestop on Sept. 29, 2017.

Both parties met in mediation twice before reaching a settlement on May 7. The settlement was approved during July 2018 and received final approval Dec. 19, 2018. The two class representatives will receive $3,750 each, with attorneys’ fees and costs totaling over $557,500. Gamestop will pay $235 to claimants who can document legitimate out-of-pocket expenses and up to $10,000 for those who demonstrated extreme losses.

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