IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF WASHINGTON

If your financial institution issued one or more payment cards identified as having been at risk as a result of the cyber-attack that Eddie Bauer announced in 2016, it could get a payment from a class action settlement.

• A settlement has been proposed to resolve a lawsuit against Eddie Bauer, LLC (“Eddie Bauer”) brought by a financial institution, as a result of third-party criminal cyber-attacks of Eddie Bauer’s point-of-sale systems, involving malware targeting customers’ payment card information that Eddie Bauer reported in 2016 (the “Cyber Attack”).

• The lawsuit, Veridian Credit Union v. Eddie Bauer LLC, No. 2:17-cv-00356 (W.D. Wash.), alleges that Eddie Bauer is legally responsible for the Cyber Attack and asserts claims for negligence and violation of RCW 19.255.020 and the Washington Consumer Protection Act, RCW 19.86.  Eddie Bauer denies these allegations and claims it did not do anything wrong.

• Under the Settlement, Eddie Bauer will pay, on a claims-made basis, at least $1,000,000, and up to $2,800,000, into an Escrow Account out of which the Settlement Administrator will make payments to eligible Settlement Class Members.  A Settlement Class Member, who submits a valid claim, will receive $2.00 for each eligible payment card it issued, subject to a pro rata increase if the total value of eligible claims submitted is less than $1,000,000. In addition, Eddie Bauer agrees to certain injunctive relief and will continue to maintain compliance with the Payment Card Industry Data Security Standards, for which Eddie Bauer has expended, and expects to expend, approximately $5,000,000.  Eddie Bauer also has agreed to pay up to an additional $2,000,000 to cover the Costs of Settlement Administration, which may include any attorneys’ fees, costs, and expenses and Service Award payments that are approved by the Court.

Your financial institution’s legal rights are affected whether you act or don’t act.
Read this notice carefully.