US retailer Target has failed to overturn the lawsuit brought against them by financial institutions over losses associated with last year’s data breach after a US judge has given the go-ahead to proceed with the case.
Target had tried to get the suit dismissed but US District Judge Paul Magnuson ruled that
Target fails to get bank lawsuit dismissed
three of the four claims made by the five plaintiff banks can proceed.
The firms are claiming millions of dollars from Target as they seek to claw back money spent on reimbursing customers and issuing new cards in the wake of the data beach, which saw the details of around 40 million cards stolen.
According to Magnuson, quoted by Reuters: “Plaintiffs have plausibly alleged that Target’s actions and inactions – disabling certain security features and failing to heed the warning signs as the hackers’ attack began – caused foreseeable harm to plaintiffs…Plaintiffs have also plausibly alleged that Target’s conduct both caused and exacerbated the harm they suffered.”
The plaintiffs – Umpqua Bank, Mutual Bank, Village Bank, CSE Federal Credit Union and First Federal Savings – are seeking class-action status on behalf of financial institutions with customers who used cards at Target in late 2013.
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