#CyberFLASH: Home Depot facing lawsuits in Canada, U.S. over data breach

Close up of wooden gavel at the computer keyboardHome Depot faces at least 44 lawsuits in the United States and Canada over a massive data breach earlier this year that affected 56 million debit and credit cards.

The nation’s biggest home improvement retailer said Tuesday in a regulatory filing that several state and federal agencies also are looking into the data breach and it may face more litigation from customers, banks, shareholders and others.

Home Depot said the litigation and the investigations may distract management and affect how it runs its business. It also could lead to additional costs and fines. But those expenses aren’t clear yet because the cases are in early stages, the company said in a quarterly filing with the Securities and Exchange Commission.

The company said earlier this month after announcing third-quarter earnings that it anticipates a fourth-quarter breach-related expense of about $27-million, but only about $6-million after insurance.

Home Depot has a $100-million insurance policy for breach-related expenses. That comes with a $7.5-million deductible.

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