Heartland Payment Systems will pay American Express $3.6 million for damages stemming from Heartland's 2008 card data security breach that some have called the largest in history.

"We are pleased to have reached an equitable settlement with American Express," commented Bob Carr, Heartland's chairman/CEO when announcing the settlement. "This settlement marks the first agreement with a card brand related to the intrusion."

The company also announced that the United States District Court for the District of New Jersey granted Heartland's motion to dismiss the consolidated shareholder class action, titled In Re Heartland Payment Systems, Inc. Securities Litigation, which had been filed against Carr and Robert H.B. Baldwin, Jr., Heartland's president/chief financial officer. The case, which arose from a breach disclosed on Jan. 20, 2009, was dismissed in its entirety with prejudice.