NASHVILLE, Tenn., Oct. 12, 2016 /PRNewswire/ -- If your financial institution issued payment cards identified as potentially compromised by Visa or MasterCard in the payment card data breach that was publicly disclosed by MAPCO Express, Inc. ("MAPCO") on or about May 6, 2013 (the "Data Breach"), the proposed settlement of a class action lawsuit could affect its rights, and entitle it to a settlement.
The plaintiffs in lawsuits brought by First National Community Bank and WinSouth Credit Union claim that they and other similarly situated financial institutions suffered damages and/or harm as a result of a data breach with respect to personal and financial information of customers who used debit or credit cards at MAPCO retail locations. Plaintiffs claim that MAPCO negligently failed to prevent the Data Breach, and that banks or other financial institutions suffered losses as a result, such as card replacement costs, fraudulent transaction costs, and other costs and expenses. The parties to these lawsuits have asked the United States District Court for the Middle District of Tennessee to approve a settlement of the dispute on a class-wide basis.
The Class includes all entities in the United States and its Territories that issued payment cards identified by Visa and MasterCard as potentially compromised in the payment card data breach that was publicly disclosed by MAPCO on or about May 6, 2013. These include credit cards, debit cards, and other types of payment cards. Your financial institution may be entitled to a settlement payment, and your rights will be affected by the Settlement. For more complete information about the Settlement, please visit www.mapcobanksettlement.com, or call 1-877-361-3809 to speak with the Settlement Administrator.
Cash Payments to the Proposed Settlement Class. If the Court approves the Settlement, members of the proposed Settlement Class may be eligible to receive their pro rata share of the Settlement Fund created by MAPCO. Specifically, the proposed Settlement provides Authorized Claimants with two options.
- First, they can make a claim to the Settlement Fund in a set, per-card amount, without needing to submit documentation of alleged costs and expenses. Under this first option, Authorized Claimants will receive a maximum of $3.00 per claimed-on account, subject to a pro rata increase or decrease, depending on the value of all approved Claims.
- Alternatively, Authorized Claimants can seek a portion (up to 60%) of their actual damages, by submitting documentation demonstrating their losses and any amounts each Authorized Claimant has received from Visa or MasterCard through those brands' recovery processes. The amount an Authorized Claimant receives under the second option will also depend on the total number of claims submitted.
Release of Claims by the Proposed Settlement Class. If the Court approves the Settlement, certain claims the Class Members have against MAPCO and related parties will be released and extinguished.
Right to Exclude Your Institution From the Settlement Class. Any member of the Class may submit a request to be excluded from the Class by submitting a written Request for Exclusion. If your institution chooses to exclude itself, it can keep whatever claims it has against MAPCO, but it cannot receive any cash payment from the Settlement.
Right to Object to the Settlement. Any member of the Class can choose to object to the Settlement, or any part of it, by submitting a written objection.
Please visit the website www.mapcobanksettlement.com for more complete information about the Settlement, instructions for making a Claim for a payment or excluding your institution from or objecting to the Settlement, a printable Claim Form, deadlines for taking action related to the Settlement, and answers to frequently asked questions. You can also call the Settlement Administrator at 1-877-361-3809 for further information.
With respect to the Settlement, the following important deadlines apply:
- February 9, 2017: Deadline for Claim Forms to be received by the Settlement Administrator;
- December 19, 2016: All Requests for Exclusion must be postmarked by this date;
- December 19, 2016: Deadline to file and serve any objection to the Settlement, as provided for in the Settlement Agreement.
QUESTIONS? CALL 1-877-361-3809 or VISIT www.mapcobanksettlement.com
MEDIA: Jeff Dahl, 952-562-3601
RELATED LINKS: www.mapcobanksettlement.com
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SOURCE Dahl Administration, LLC