Leagues join CUNA as plaintiffs in Home Depot suit
April 22, 2015
MADISON, Wis. (4/23/15)--Among the credit union leagues that have joined CUNA as plaintiffs in a nationwide class-action lawsuit against Home Depot in connection with a September 2014 data breach are the California and Nevada Credit Union Leagues, Michigan Credit Union League (MCUL) and the Georgia Credit Union League.
Credit unions themselves are also participating, or expected to participate, as named parties. A Missouri credit union has joined in the litigation as a named plaintiff, the Missouri Credit Union Association reported. As a result, all Missouri financial institutions, including credit unions, are represented in the lawsuit.
"We want credit unions to be aware that they are not required to individually sign up as a plaintiff to be represented in the lawsuit, despite inquiries from law firms involved in the case that may have been received," said John Thomas, MCUA senior vice president of regulatory compliance (Missouri Difference April 21).
CUNA has agreed to join credit unions and other financial institutions around the country as a plaintiff in a class action lawsuit against Home Depot that seeks recovery and injunctive relief associated with the retail giant's massive 2014 data breach. That breach resulted in credit unions bearing tens of millions of dollars in costs. Home Depot has acknowledged that 56 million credit and debit cards were compromised.
Earlier this month, the California and Nevada Credit Union Leagues joined as plaintiffs in the suit (News Now April 9).
At least one Michigan credit union is likely to be added as a named plaintiff in the class-action lawsuit this week, said Ken Ross, MCUL executive vice president and chief operating officer said (Monitor April 20).
At its April meeting, the Georgia Credit Union League board of directors voted to participate in the suit.
To best ensure monetary recovery from the September 2014 data breach at Home Depot is available to credit unions in all states, plaintiff lawyers are seeking at least one plaintiff from each state to be involved as a named plaintiff in the current class action lawsuit, Susan Parisi, CUNA chief counsel, noted. She emphasizes that credit unions still need to make their own decision about whether joining as a named plaintiff is right for them.
Parties to the lawsuit must be identified and evaluated within the next two weeks to make the May 15 deadline for inclusion in the class action lawsuit. Those credit unions who choose not to participate as named parties can still likely participate as class members. No immediate action is needed by credit unions not wishing to be named parties.
Credit unions potentially willing to act as a named party in the case can contact email@example.com to see if their state is already represented by a financial institution plaintiff.