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Target proposed settlement with MasterCard faces opposition

We previously reported that Target and MasterCard had entered into a proposed $19 million settlement to reimburse card issuers for expenses related to the re-issuance of credit and debit cards to customers affected by the...more

Supreme Court Grants Cert in Spokeo v. Robins

On April 27 the United States Supreme Court granted certiorari in Spokeo, Inc. v. Robins, setting the stage for the high court to resolve a critical standing question that is an issue in almost all online privacy cases:...more

Supreme Court to Consider Constitutional Limits on Statutory-Damages Suits

On Monday, April 27, 2015, the Supreme Court agreed to hear an important constitutional case that could dramatically limit the viability of class action lawsuits claiming millions or billions of dollars in statutory damages...more

Banking & Financial Services E-Note - April 2015

In This Issue: - Insuring Against Data Breaches - Plaintiff in Foreclosure Action Snared by Evidence of Damages, Attorneys' Fees & Costs - Dodd-Frank Act Update April 2015 Edition - Bond Financing:...more

Regulatory Settlement Proves Major Obstacle for Certification of Minor Class of Google In-App Purchases

Google sells apps on its Play Store that allow users to make in-app purchases, typically the buying of “currency” for use in app-based games. This putative class action alleged that the games were aimed at minor children and...more

Target and MasterCard Reach $19 Million Agreement Over Data Breach

On April 15, retail company Target agreed to set aside up to $19 million to settle claims brought by MasterCard and its credit card issuers to cover operational costs and fraud-related losses resulting from a data breach...more

Bridging the Week - April 2015 #2

IOSCO Seeks Views on Business Continuity and Recovery Planning by Trading Venues and Intermediaries; NYS Warns on Third-Party Service Providers - The International Organization of Securities Commissions issued two...more

District Court Dismisses Data Breach Case for Lack of Standing

The US District Court for the Middle District of Pennsylvania recently dismissed a consolidated class action against Paytime, Inc. arising out of a data breach by hackers who accessed the personal and financial information of...more

Large Retailer Agrees to Pay $10 Million Related to Data Breach Incident

On March 19, a district court granted preliminary approval in which a large retailer agreed to pay $10 million to settle a class-action action suit related to a 2013 data breach, which resulted in the compromise of at least...more

Financial Institutions File Class Action Suit In Response to Data Breach

On March 13, a federal credit union filed a class action suit against a national retailer and parent company, alleging their actions during a September 2014 data breach injured credit unions, banks, and other financial...more

Title Insurance Regulatory and Legislative Update - March 2015

Title Guaranty Fund Update: The Title Insurance Task Force met recently by teleconference and received an update on the activities of the Title Insurance Guaranty Fund Working Group. The draft “Title Insurance Guaranty...more

Update: Transaction Processors Appeal Order Denying Third-Party Fees after Cyber Attack

In early February, this blog discussed a case involving a grocery store chain that was a victim of a cyber-attack and its transaction processors. See Schnuck Mrkts. v. First Data Merchant Servs Corp., No. 4:13-cv-2226-JAR,...more

New York State Division of Tax Appeals Renders Long-Awaited Decision Regarding Corporate Franchise Tax Sourcing of Services and...

For years, both the New York State Department of Taxation and Finance (the “Department”) and the New York City Department of Finance have aggressively sought to classify receipts generated by electronic or online service...more

Judge Hellerstein refused to stay case pending resolution of other cases involving the patents in suit

Intellectual Ventures I LLC, et al. v. Citigroup, Inc., et al. Case Number: 1:14-cv-04638 - Citigroup moved to stay this case, which involved five patents related to cyber security and the protection of customer...more

Losses Associated with Cyberattack at Grocery Store do not Override Liability Cap

Grocery stores have been hit with a number of suits by their customers in recent years after a cyberattack of the store leads to a theft of customer financial information. Another type of suit arises frequently when such...more

Post-Alice Patents in Ecommerce, Banking and Finance

Where are the post-Alice business method patents? Between January 1, 2015 and January 23, the USPTO issued 247 patents in class 705, the overall business methods classification. I reviewed the file histories of every...more

IP Newsflash - January 2015 #4

DISTRICT COURT CASES - Akin Gump Wins Section 101 Motion to Dismiss, Invalidating 887 Patent Claims - Following Supreme Court precedent set forth in Alice Corp. Pty. Ltd. v. CLS Bank International, Judge Sleet...more

Supreme Court Starts 2015 Off with Focus on Facts Shaping Intellectual Property Disputes

The U.S. Supreme Court kicked 2015 off with an intellectual property bang, issuing two important rulings earlier this week. Both decisions focus on the facts underpinning intellectual property disputes—who decides them and...more

In Teva Pharmaceuticals USA, Inc. And Hana Financial, Inc., The Supreme Court Issues Two IP Decisions – One Deferring To Trial...

This week, the Court rendered two IP opinions in Teva Pharmaceuticals USA, Inc. v. Sandoz, Inc., No. 13-854 (argued October 15, 2014) and Hana Financial, Inc. v. Hana Bank, No. 13-1211 (argued December 3, 2014) . Teva...more

SDNY Clarifies Scope of Contractual Exclusions of Consequential Damages Under New York Law

On December 15, 2014, the United States District Court for the Southern District of New York ruled in PNC Bank v. Wolters Kluwer Financial Services that defendant Wolters Kluwer Financial Services ("WKFS") was not liable for...more

Product Liability Update - January 2015

In This Issue: - First Circuit Holds Plaintiff Lacks Standing to Recover for Allegedly Defective Product Based on Risk of Future Harm From Lightning Strike Where Complaint Contained Insufficient Facts to Demonstrate...more

Data Breach Litigation – Financial Institutions Score Another Shot

Previously I wrote about banks joining the legal battle over data breaches. Anyone not living under a rock knows that there is multidistrict class action litigation involving Target’s massive data breach in December 2013...more

Banking software patent is found to be invalid

Robinson, J. Defendant’s motion for summary judgment of invalidity is granted; plaintiff’s motion for validity is denied. Defendant’s motion for summary judgment of non-infringement is granted; plaintiff’s motion for...more

Court Allows Financial Institutions To Proceed With Data Breach Class Action Against Target

On December 2, 2014, a U.S. District Court in Minnesota ruled that a group of banks and other financial institutions (collectively, “FIs”) could proceed with a class action against large national retailer Target arising from...more

Minnesota Federal Judge Allows Data Breach Suit Against Target to Proceed

On December 2, District Judge Paul Magnuson denied Target’s motion to dismiss the class action suit brought by banks in response to its 2013 data breach. In re: Target Corporation Customer Data Security Breach Litigation,...more

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