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Join the Cybersecurity and Incident Response Group on LinkedInSeeking Insurance for Cybersecurity-Related Losses | The D&O Diary
Many of you probably saw the news this past week that Target has filed a lawsuit against one of its insurers over losses the company sustained in connection with the company’s 2014 data breach. The Target lawsuit is the latest in a series of high profile insurance battles in which companies are seeking to recoup […]
Yet another Target settlement highlights data breach costs – Lexology
In what appears to be the closing act of the saga that is the Target data breach, on May 23 the retailer announced it had reached a settlement agreement with a coalition of 47 states’ attorneys general. Pursuant to the settlement, Target will pay $18.5 million to the states in rough proportion to their population […]
Lone consumer holds up Target data breach settlement | INFORUM
In late 2015, Target agreed to a compensation plan for affected consumers with a pool of $10 million available. But consumers have yet to see a dime because of a sole objection. One man stands in the way. Leif Olson, a Texas resident, has been able to block court approval of the plan. He’s represented […]
Target data breach settlement: Convincing companies to take security seriously — Slate
If we can learn anything from the $10 million settlement Target reached last month to resolve the class-action suit brought against it by customers who were victims of the retailer’s 2013 data breach, it’s that we still haven’t learned anything about how to improve security from breach after breach after breach. Even worse, we’re not […]
Target Close to Settling Data-Breach Lawsuit for $10 Million – NBC News.com
Target Corp. and lawyers for customers whose personal information was stolen in a 2013 data breach have agreed on a $10 million settlement, according to court documents filed Wednesday. via Target Close to Settling Data-Breach Lawsuit for $10 Million – NBC News.com
Target Ruled Negligent in Massive Holiday Data Breach – Infosecurity Magazine
Judge Paul A. Magnuson of the Minnesota District Court has ruled that Target was negligent in the massive 2013 holiday shopping season data breach. As such, banks and other financial institutions can pursue compensation via class-action lawsuits. via Target Ruled Negligent in Massive Holiday Data Breach – Infosecurity Magazine
Lawsuit by banks who sued Target over data breach moves forward | Fox Business
U.S. District Judge Paul Magnuson has allowed three of four claims made by the plaintiffs to move forward. The claims allege negligence, failure to provide sufficient security against data hackers and violation of Minnesota’s Plastic Security Card Act. via Lawsuit by banks who sued Target over data breach moves forward | Fox Business
Target Data Breach Cost Update – Business Insider
Target’s data breach just got more expensive. In a statement, the retailer said its second quarter earnings will include a $148 million charge related to losses regarding the massive data breach which occurred during last year’s holiday shopping season. via Target Data Breach Cost Update – Business Insider
Target Announces New CEO To Lead Recovery After Data Breach | TIME
Target announced a new CEO Thursday as it looks to rebound from the damage wrought last year by a massive data breach that prompted former CEO Gregg Steinhafel’s resignation. PepsiCo exec Brian Cornell, the former head of Sam’s Club, will take over at Target, replacing interim CEO John Mulligan, the company said in statement. via […]
Target hires new security chief from General Motors after data breach – Los Angeles Times
Target Corp. is hiring an IT expert from General Motors Co. to beef up its data security following a massive breach that continues to weigh on its reputation. Brad Maiorino will head up technology risk and information strategy, a newly created position. via Target hires new security chief from General Motors after data breach – Los Angeles […]
Target board defends its role before and after data breach | Star Tribune
Under fire for its handling of the data breach, Target’s board is now defending itself to shareholders in advance of next week’s annual meeting. In a letter this morning, Roxanne Austin, the board’s interim chairwoman, told shareholders that the board takes its oversight responsibilities seriously and asks for their support in re-electing all of the […]
ISS Recommends Ouster of Seven Target Directors For Data Breach Failures – Compliance Week
If negative press, customer losses, legal fees, and massive lawsuits weren’t already enough to get corporate boards of directors to pay attention to the risk of data breaches, perhaps the latest recommendation from ISS to Target shareholders will get their attention. via ISS Recommends Ouster of Seven Target Directors For Data Breach Failures – Compliance […]
100 lawyers in a room: Target case draws the suits to St. Paul — Pioneer Press
The Target data breach is now the subject of a massive court case, and Wednesday, nearly 100 lawyers from across the country crowded into a St. Paul courtroom as the legal jockeying began. More than 140 lawsuits — filed against Target by consumers, shareholders and banks — have been consolidated before U.S. District Judge Paul […]
Target CEO resigns after massive data breach – The Washington Post
Steinhafel “held himself personally accountable and pledged that Target would emerge a better company,” according to a statement from Target’s board of directors. “We are grateful to him for his tireless leadership and will always consider him a member of the Target family.” via Target CEO resigns after massive data breach – The Washington Post
Target CEO out as data breach fallout goes on — USA TODAY
Target President and CEO Gregg Steinhafel resigned Monday as the retailer continues to recover its image nearly five months after a massive holiday-season data breach. via Target CEO out as data breach fallout goes on — USA TODAY.