The Target data breach now goes into phase two… a massive court case. Last week nearly 100 lawyers from across the country crowded into a St. Paul courtroom as the games began.
Count them! More than 140 lawsuits — filed against Target by consumers, shareholders and banks — have been consolidated before U.S. District Judge Paul Magnuson. It sounds like a feeding frenzy! The judge at one point said, “I’m beginning to learn this data breach business is quite a cottage industry.” Can you imagine those attorney’s fees?
All of those guns are now focusing on Target Corporation and they are moving in for the kill. Much of the stolen information was sold online to other criminals, which alarmed shoppers and led to sizeable losses.
The total numbers were 40 million Target shoppers and possibly some 70 million additional shoppers had other data compromised.
The cases will be grouped into three clusters.
- The largest group of 111 cases is the consumer lawsuits.
- There are 29 cases that were filed by banks and credit unions, which suffered fraud losses and the costs of reissuing cards.
- There are four cases is shareholder lawsuits.
The initial timetable for trials is early 2016 that is of course unless the cases are settled first.