Neiman Marcus data-breach settlement requires info-sharing initiatives, other controls

Department store chain Neiman Marcus has agreed to engage in cyber information-sharing initiatives and conduct other security improvements in a proposed settlement of a class-action lawsuit filed after a major data breach at the company in 2013.

The $1.6 million proposed settlement currently awaits preliminary approval from the U.S. District Court for the Northern District of Illinois.

Over 350,000 customers were affected by the breach. The company faced criticism at the time for its allegedly slow efforts to notify customers....