Big data theft settlement gets approval

A U.S. district judge in San Francisco has approved a settlement of a class action suit brought by more than 6 million current and former customers of TD Ameritrade. The AP reports the Omaha-based brokerage will pay nearly $1.9 million in legal fees and cover the cost of one year of anti-spam service for the victims. Ameritrade apparently intends to provide Trend Micro anti-spam software. It also promised to better protect customer data, though it is unclear how this will be enforced and who will be in position to judge the efforts.

Ameritrade disclosed the data breach in 2007, but it has never shared all the details. Sensitive information was in one hacked database but was apparently not stolen. Victims received email ads about small-cap stocks. It could have been much worse. Ameritrade and its customers are lucky in that regard. 

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