MINNEAPOLIS (9/11/15)--As expected, the U.S. District Court of Minnesota heard arguments Thursday whether to grant class-action status to financial institution plaintiffs involved in lawsuits against Target as a result of the winter 2013 data breach suffered by the company. The court will make its decision in the coming weeks.
“The arguments and evidence presented to the Court show how Target’s misconduct led to one of the largest data breaches in U.S. history, causing the class of financial institutions to sustain massive financial losses,” said Charles Zimmerman, co-lead counsel for the financial institutions. “Target failed to take appropriate measures to ensure its data systems were protected, for weeks ignored clear evidence that intruders had breached its systems, and failed to take actions that could have thwarted the data breach.”
Zimmerman of Zimmerman Reed PLLP, along with Karl Cambronne of Chestnut Cambronne PA, act as co-lead counsel for financial institutions in the Target data breach litigation.
If the court certifies the financial institution class, they would be allowed to seek damages together, rather than individually. This would allow the financial institutions to coordinate use of attorneys, collection of evidence, requests of witnesses and most other aspects of the litigation.
Target's data security breach compromised 40 million debit and credit card numbers and the personal information of as many as 70 million customers. CUNA’s research found that credit unions incurred $30.6 million in costs related to the breach, not including any fraud costs.