Science, Computers & Technology, Civil Remedies, Finance & Banking

Court Holds that Hannaford Data Breach Suit Cannot Proceed as Class Action

by Ropes & Gray LLP on 3/29/2013

On March 20, 2013, the United States District Court for the District of Maine denied a motion brought by plaintiffs in In re Hannaford Brothers Company Data Security Breach Litigation that would have allowed the suit to...more

Advertising News & Analysis - March 14, 2013

by Ellen Traupman Berge, Thomas Gilbertsen, Maggie Grace, Gary D. Hailey, Jeffrey D. Knowles, Amy Ralph Mudge, Jonathan L. Pompan | Venable LLP on 3/18/2013

In this issue: - FTC’s .com Disclosures: New Media Still Subject to Old Rules - Paper, Plastic...or Mobile? FTC Issues Report on Mobile Payments - Why So Negative on Negative Option? - Cy Pres...more

Supreme Court Denies Certiorari in Stem Cell Funding Case

by Donald Zuhn | McDonnell Boehnen Hulbert & Berghoff LLP on 1/8/2013

In an order issued earlier today, the Supreme Court denied certiorari in Sherley v. Sebelius, ending the efforts by two adult stem cell researchers to prevent the National Institutes of Health (NIH) from funding research...more

Bank Agrees to Reimburse Company for Funds Taken Through Online Bank Account Theft

by Craig Hoffman | BakerHostetler on 12/6/2012

We reported in July on a First Circuit Court of Appeals decision finding that a bank failed to implement commercially reasonable security methods to prevent unauthorized transfers by a criminal that gained the online banking...more

When Banks Are on the Hook for Cybertheft

by Bernstein Shur on 12/5/2012

This Wall Street Journal Article features Bernstein Shur Attorney Dan Mitchell. Banks typically are responsible for losses when personal accounts are hacked. But commercial clients that fall victim to cyber theft have...more

After Sanford company’s money stolen, court rules banks are responsible if hacked

by Bernstein Shur on 12/5/2012

This BDN Maine article features Bernstein Shur Attorney Dan Mitchell. SANFORD, Maine — A recent court ruling involving a Sanford construction company and its bank could have nationwide implications as attorneys and...more

The Tale of Two Banks: Final Settlement in Maine Bank Security Practices Case and a Failure of Bank Security Procedures in Florida

by Mintz Levin - Privacy & Security on 12/5/2012

In a case that we have written about, People’s United Bank of Maine has agreed to pay about $ 390,000 to settle a claim that its security practices allowed unauthorized persons to withdraw funds from a construction company’s...more

Bank Agrees to Reimburse Hacking Victim $300K in Precedent-Setting Case

by Bernstein Shur on 12/4/2012

This Wired Magazine article features Bernstein Shur Attorney Dan Mitchell. In a case watched closely by banks and their commercial customers, a financial institution in Maine has agreed to reimburse a construction...more

Bank Agrees to Settle Suit Over Cyber Security Procedures

by BuckleySandler LLP on 12/3/2012

On November 19, a bank sued by a commercial account holder to recover funds lost after cyber attackers gained electronic access to its account and made a series of unauthorized withdrawals reportedly agreed to pay the...more

Morgan Stanley Sued Over $110 Million in Mortgage Loans

by Orrick - Structured Finance Group on 10/10/2012

On September 28, an RMBS trustee sued a Morgan Stanley unit in the Supreme Court for the State of New York, alleging that Morgan Stanley sold RMBS backed by defective mortgage loans. The trustee asserts that Morgan Stanley...more

Door to Increased Liability for Banks Opened by U.S. Court of Appeals for the First Circuit

by Proskauer - Privacy & Data Security on 7/20/2012

The United States Court of Appeals for the First Circuit has opened the door to increased liability for banks when hackers make fraudulent withdrawals....more

Court Rules on What is “Commercially Reasonable” Bank Security

by Mintz Levin - Privacy & Security on 7/19/2012

Small business owners have new hope that they may be on the same footing as individuals when it comes to cybertheft from their bank accounts. ...more

First Circuit Holds Bank May Be Liable For Customer Losses from Cyber Attacks

by BuckleySandler LLP on 7/18/2012

On July 3, the U.S. Court of Appeals for the First Circuit became the first federal appellate court to address the issue of bank liability for the loss of customer funds resulting from a breach of a bank’s cyber security,...more

Angel Investors: Secondary Liability for DCI Copyright Infringement

by Keker & Van Nest on 4/12/2012

Digital content intermediaries (DCIs) such as YouTube, Facebook, Ebay and others handle vast quantities of digital content uploaded by users, raising questions about their potential secondary liability for copyright...more

MF Global Creditors take action in wake of Bankruptcy

by Tampa Bay Bankruptcy Center, P.A. on 11/9/2011

Since the bankruptcy filing of MF Global on October 30, the brokerage firm’s creditors have started to take action to recover their losses. These include suing the company’s advisers, searching for assets overseas and seeking...more

Merchant Liability for Security Breaches

by Morrison & Foerster LLP on 6/1/2007

In the world of security breach, the momentum has clearly shifted to the states, maybe this time for good. More than thirty-five states have already enacted breachnotification statutes. This trend may be unstoppable, with...more

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Science, Computers & Technology › Civil Remedies › Finance & Banking