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Banks impacted by the 2013 Target data breach can now seek payment as a group

By dkpope
Sep 17, 2015
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  1. [parsehtml]<p><img src="https://www.techspot.com/images2/news/bigimage/2015/09/2015-09-17-image-14.jpg" /></p> <p>Earlier this week a judge certified a class-action lawsuit against Target, aiming to make the retailer pay for its huge data breach. Reuters reports that the judge ruled that the <a href="http://www.reuters.com/article/2015/09/15/us-target-lawsuit-databreach-iduskcn0rf2gg20150915?utm_campaign=trueAnthem:+Trending+Content&amp;utm_content=55f8b2b404d30128d0000001&amp;utm_medium=trueAnthem&amp;utm_source=twitter">banks involved can now pursue their lawsuit </a>against Target as a group, which strengthens their chances of a settlement.</p> <p>Back in August, financial groups that issue Visa cards settled a case individually with Target for up to $67 million. According to the report, it&rsquo;s not clear how many card issuers agreed to that settlement by the Sept. 4 deadline, and would then be unqualified for the possible Target settlement. And earlier this year a case with MasterCard was in progress, but the $19 million settlement failed because not enough banks accepted the agreement.</p> <p>The prospect of a large payout is just the latest step in a story that has been <a href="https://www.techspot.com/news/55286-target-data-breach-update-says-up-to-70-million-customers-affected.html">unraveling since late 2013</a>, when the breach occurred. Seventy million Target customers, and at least 40 million credit cards, had information compromised in the hack which lead to the CEO&rsquo;s resignation.</p> <p>A counsel for the National Association of Federal Credit Unions said the judge&rsquo;s decision is an &ldquo;important avenue&rdquo; for credit unions to fully recover from the data breach. The Target spokeswoman quoted in the Reuters report said the company is, not shockingly, &quot;disappointed&quot; by the direction the case is taking. As a class-action lawsuit now hangs over the retailer, they had better get their next steps ready quickly.</p><p><a rel='alternate' href='https://www.techspot.com/news/62145-banks-impacted-2013-target-data-breach-can-now.html' target='_blank'>Permalink to story.</a></p><p class='permalink'><a rel='alternate' href='https://www.techspot.com/news/62145-banks-impacted-2013-target-data-breach-can-now.html'>https://www.techspot.com/news/62145-banks-impacted-2013-target-data-breach-can-now.html</a></p>[/parsehtml]
  2. VitalyT

    VitalyT Russ-Puss Posts: 3,453   +1,732

    Did somebody specifically target that line of shops? How strange they would choose them... LOL.
  3. NightAngel79

    NightAngel79 TS Booster Posts: 177   +45

    You can believe several were targeted, all the time. Target just happened to be (this time) the one with the flaw (a known flaw at that) that was exploited.

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