NEW: Judge allows HD class action deadline to be moved back
WASHINGTON (5/14/15, UPDATED 2:42 p.m. ET)--The looming deadline for credit unions and other stakeholders to decide whether to become named plaintiffs in a class action suit against Home Depot is being pushed back 12 days.
Originally set for tomorrow, the judge in the U.S. District Court for the Northern District of Georgia has granted a request by plaintiff attorneys to push the deadline to amend the original complaint back to May 27.
The suit is in response to a massive, September 2014 data breach at the Atlanta-based, big-box retailer. Home Depot acknowledged that 56 million credit and debit cards were compromised after cybercriminals infiltrated its payment systems. That breach of customers' sensitive data has cost credit unions alone nearly $60 million, according to data compiled by CUNA.
The suit will seek monetary recovery and injunctive relief. CUNA will join credit unions and other financial institutions and associations nationwide as a plaintiff in the lawsuit.
In an announcement that CUNA would join, CUNA President/CEO Jim Nussle noted that CUNA did not make the decision to join the lawsuit lightly: "We stand with our credit union members and believe consumers must be protected from merchant negligence. Home Depot continues to operate using the inferior systems and procedures that gave rise to the breach and it is unacceptable."
To best ensure monetary recovery from the data breach at Home Depot is available in all states, financial institutions in all states have been asked to consider joining the lawsuit.
There are multiple firms participating as counsel for the class. CUNA is using the firms below and credit unions who have questions about their legal rights can contact them at: