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Settlement reached in Wendy’s data breach case (Image: Shutterstock).

After two and half years of litigation and three rounds of mediation, a group of credit unions and credit union leagues has reached a settlement agreement with fast food giant Wendy’s after the company’s 2015-2016 data breach.

The settlement requires Wendy’s to pay $50 million to a settlement fund set up to compensate financial institutions and pay attorney fees. Subject to court approval, Wendy’s will also pay a $7,500 “service award” to each deposed plaintiff, plus $2,500 to three other financial institution plaintiffs in the class-action complaint.

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Tina Orem

Credit Union Times

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