Target fails to end banks’ lawsuit over data breach
Jonathan Stempel reports:
A federal judge on Tuesday rejected Target Corp’s bid to dismiss a lawsuit by banks seeking to recoup money they spent reimbursing fraudulent charges and issuing new credit and debit cards because of the retailer’s late 2013 data breach.
U.S. District Judge Paul Magnuson in St. Paul, Minnesota said Target played a “key role” in allowing hackers to infiltrate its computer systems.
He said this justified letting the five bank plaintiffs, which seek class-action status on behalf of lenders nationwide, pursue much of their lawsuit accusing the second-largest U.S. discount retailer of negligence and violating Minnesota consumer protection laws. The banks are seeking millions of dollars in damages.
Read more of this Reuters report on Investing.com