IN: Lake Ridge Schools loses suit to recover $120,000 missing after hacking incident

Bill Dolan reports:

The Lake Ridge School Corp. has had another financial setback only weeks after voters declined to provide more tax revenue to the struggling institution.

The school district recently lost a legal battle with a New York bank to recover more than $120,000 stolen two years ago by an offshore computer hacker.

School Superintendent Sharon Johnson-Shirley said this week she still believes Bank of New York Mellon should have reimbursed the school district.

However, U.S. District Court Judge Theresa Springmann dismissed her lawsuit against the bank, ruling earlier this month that the bank cannot be held responsible under its contract with the school corporation.

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