Banks Suing Target Over Data Breach

A district court judge in Minnesota has ruled that a consolidated lawsuit against Target over its massive 2013 data breach can go forward on three out of four claims. The plaintiffs are a group of five lenders acting on behalf of any financial institution affected by the breach. They say it cost them tens of millions of dollars, including costs for reimbursing customers, reissuing cards and monitoring accounts. U.S. District Judge Paul Magnuson dismissed the claim for “negligent misrepresentation by omission” related to Target’s security system, but allowed claims alleging negligence, failure to provide sufficient security against hackers and violation of Minnesota’s Plastic Security Card Act.