Creditors who are members of an official committee of unsecured creditors in a bankruptcy owe fiduciary duties to other unsecured creditors and to other committee members. In this article on the Neiman Marcus bankruptcy, the...more
In many chapter 11 cases, a committee of unsecured creditors is formed early in the case to represent the overall interests of unsecured creditors. See 11 U.S.C. § 1102. Members of the committee hold a “fiduciary” obligation...more
New York County Supreme Court Justice Schecter dismissed a fraudulent conveyance action brought by UMB Bank, N.A., the indenture trustee for certain of Neiman Marcus’ senior notes, on the basis that the applicable indenture...more
This week’s addition of another 3 million to the jobless roll brings the two-month unemployment claim total to 36.5 million and highlights the “rolling shock” nature of the pandemic’s economic fallout—even as some businesses...more
Not exactly stop-the-presses stuff at this point in the relationship, but negotiators from the U.S. and China have officially been in touch and agreed to keep talking as they work to implement the bilateral trade deal signed...more
In Washington: One of President Trump’s personal valets provided by the U.S Navy has tested positive for coronavirus. The valet works close to President Trump and the first family. The President and Vice President have...more
House leaders and White House negotiators are closing in on a bipartisan deal “to replenish funds in the small-business loan program that ran out of money” last week. The $500 billion measure would also “provide money for...more
Apparel merchandisers are predicting that resale will soon become a force in the industry and retailers are beginning to take notice. Increasingly, young shoppers are turning to online, resale and rental for their clothing...more
In this month's edition, we examine cybersecurity-related state Supreme Court rulings in Pennsylvania, Vermont and Illinois; the Department of Health and Human Services' cybersecurity guidelines for the health care industry;...more
Marriott International Inc. (Marriott) has released new numbers relating to its Starwood Hotel’s reservation database by stating that more than 5 million passport numbers were stolen in the database. ...more
Neiman Marcus Group LLC has settled an investigation of its 2013 data breach with 43 states and the District of Columbia for $1.5 million. The data breach involved 370,000 credit cards, where 9,200 of the cards were used in a...more
As previously noted in this blog, the Neiman Marcus payment card data theft class action reflects a lenient approach to the issue of standing in data breach cases. In that case, the Seventh Circuit rejected arguments that...more
On June 21, 2017, the U.S. District Court for the Northern District of Illinois entered an order granting preliminary approval of a $1.6 million class action settlement between Neiman Marcus and a class of its customers whose...more
Judge Trims Proposed Class Action Over Wendy’s Data Breach - Torres v. Wendy’s Int’l, LLC, No. 16-cv-0210 (PGB) (DCI) (M.D. Fla. Mar. 21, 2017). A U.S. district court judge in Florida trimmed a proposed class action...more
We have followed the Neiman Marcus case from the moment the data breach was announced. After winding through the judicial system, Neiman Marcus has agreed to settle, and the plaintiffs have requested that the Judge approve...more
In today’s world, as technology costs decrease and personal information becomes more valuable on the black market, data breaches have seemingly joined the ranks of death and taxes as certainties. Add to that litigation:...more
It was about time for data breach defendants to get a win. The District Court for the Northern District of Illinois delivered one to Barnes & Noble in its long-running class action that stems from a breach suffered in 2012....more
The Sixth Circuit joined the growing trend of appellate courts holding that plaintiffs had demonstrated standing for data breach class actions in Galaria et al. v. Nationwide Mutual Insurance Company. In a recent order, the...more
Recently, an Illinois Appellate Court found that Neiman Marcus violated state law by running credit checks on potential sales associates. In Ohle v. The Neiman Marcus Group, Ohle claimed that her conditional offer of...more
This week, in the first post-Spokeo circuit court decision to address standing in a data-breach class action, the Sixth Circuit joined the Seventh Circuit in holding that plaintiffs whose sensitive personal information has...more
Law360, New York (July 1, 2016, 12:12 PM ET) -- The U.S. Supreme Court made a big splash this year establishing a murky threshold for standing that has already been widely cited by both sides of the bar, while consumers...more
Last week, the Seventh Circuit revived a data breach class action against P.F. Chang’s restaurant in an important opinion that continues a plaintiff-friendly trend that began with the court’s opinion in the Neiman Marcus case...more
On July 20, 2015, the Seventh Circuit issued its opinion in Remijas v. Neiman Marcus Group, 794 F. 3d 688 (7th Circ. 2015), which immediately became the low-water mark for Article III standing in data breach cases. In short,...more
On April 14, 2016, the Seventh Circuit held in Lewart v. P.F. Chang’s that customers who may have had personal information compromised in a P.F. Chang’s data breach have standing, at the motion-to-dismiss stage, to sue the...more
How much does the question of harm matter in cybersecurity law? The answer is: It depends on who is bringing the claim. Businesses confronting data breaches can face litigation from private consumers as well as from...more