The Target Board can breathe a little easier today – although they are not out of the woods yet – in that the shareholders who filed a series of derivative actions have agreed that the cases can be dismissed as long as they can come back for legal fees. The lawsuits claim that Target’s directors […]
Continue reading → [DISPLAY_ACURAX_ICONS]Krebs On Security has extensive reporting of an investigation by Verizon conducted starting a few days after the Target breach was announced. Target has refused to confirm or deny the report . One thing to consider. We do not know how Brian (Krebs) got the report, so all we can do is speculate. This report, in […]
Continue reading → [DISPLAY_ACURAX_ICONS]Target announced that they were breached in December of 2013 – about 22 months ago. This week a federal judge certified a class action against Target by a number of banks. Target says they are “disappointed” by the decision. This comes a month after Target agreed to pay Visa up to $67 million to settle […]
Continue reading → [DISPLAY_ACURAX_ICONS]Mastercard and Target concocted an agreement where Target would pay a fine of $19 million to settle all of the bank’s claims against Target as a result of the 2013-14 breach. This would be separate from an agreement with Visa. Mastercard was not able to get enough banks to agree to it, so the lawsuits […]
Continue reading → [DISPLAY_ACURAX_ICONS]This month a number of smaller banks attempted to derail the agreement between Target and Visa because, they said, that the way Visa allocated the money, they got almost nothing (see post). Magically, after the judge said that he did not like the agreement but that he could not do anything about it, Visa agreed […]
Continue reading → [DISPLAY_ACURAX_ICONS]The WSJ is reporting that the bankers who were impacted by the Target and Home Depot breaches are fighting back. Usually, Mastercard and Visa negotiate a deal with the retailer who was breached and then dole out the money to the banks. The money seems to go to the big banks with the small banks […]
Continue reading → [DISPLAY_ACURAX_ICONS]