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Heartland data breach triggers class action suit




Heartland data breach triggers class action suit
Heartland data breach triggers class action suit



http://www.computerweekly.com/Articles/2009/03/17/235295/heartland-data-breach-triggers-class-action-suit.htm 

[Heartland Payment Systems trades as: NYSE:HPY  -  WK]


By Warwick Ashford
ComputerWeekly.com
17 Mar 2009

Heartland Payment Systems faces a class action lawsuit from investors 
who claim they lost money followinga breach of its debit and credit card 
processing systems in 2008.

The company revealed on 20 January that its systems had been compromised 
by hackers, exposing card account numbers, expiry dates and data from 
the card's magnetic stripe.

Heartland said in a small number of cases cardholder names were also 
potentially at risk, but no personal identification numbers had been 
exposed.

An investor has filed a proposed class action in the US district court 
of New Jersey on behalf of all other investors in Heartland between 
August 2008 and February 2009.

The complaint alleges that Heartland issued false or misleading 
statements and failed to disclose material adverse facts about its 
business, operations and prospects during that period.

Heartland's shares during that period also declined from $21.84 per 
share, or approximately 80%, from its high of $27.19 per share in 
September 2008.

[...]


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