On May 10, 2018, the Unites States Court of Appeals for the Eighth Circuit affirmed the dismissal of putative class actions against TD Ameritrade, Inc. and certain related entities and individuals, asserting violations of...more
A recent skirmish about standing in data breach class actions (this time in the Eighth Circuit), involving securities and brokerage firm Scottrade, suggests that, even if plaintiffs win that limited question, there are other...more
As we head into the new week, here’s a quick summary of major data security developments from around the country. Aetna Hit With Second “Envelope” Lawsuit - Aetna Inc. is now facing a second lawsuit over the disclosure...more
In the span of just nine days, the U.S. Court of Appeals for the Eighth Circuit issued two rulings in class actions involving data breaches—one breach in 2013 at brokerage firm Scottrade and another in 2014 at grocery stores...more
In one of the first federal appellate court rulings following the Ninth Circuit’s decision in Robins v. Spokeo, the Eighth Circuit delivered a pyrrhic victory for customers victimized by a data breach....more
The U.S. Court of Appeals for the Eighth Circuit has held that allegations that the security provisions of a privacy policy were violated are sufficient for standing in a data breach case, but that plaintiffs’ contractual...more
The weekend’s business news was dominated by the word that AT&T has agreed to buy Time Warner for $85.4 billion in the biggest yet in a series of telecomm mergers....more
On July 12, 2016, the United States District Court for the Eastern District of Missouri granted Scottrade’s motion to dismiss a putative class action complaint that was predicated on the alleged theft of personal information...more
We previously reported that Scottrade was hit with a class action case within 24 hours of notifying customers of a data breach. According to the Complaint, the data compromised included the names, addresses, telephone...more
Scottrade, a retail brokerage firm, announced late last week that it suffered an intrusion by cyber hackers who stole client contact information of 4.6 million customers. The intrusion occurred between late 2013 and early...more
As reported on Friday in the Krebs on Security blog, online broker Scottrade had sent an e-mail to customers earlier that day stating that it recently had learned from law enforcement officials that Scottrade was one of a...more
Last week saw a lot of media coverage about “Yelp for People.” The app, called Peeple, allows users to rate friends, co-workers, and romantic partners based on a five-star rating system. Recruiters could review the ratings...more
UK Regulators Implement Tougher Pay Rules for Banking Institutions’ Senior Managers: The United Kingdom Prudential Regulation Authority and Financial Conduct Authority have adopted new rules regarding the remuneration of...more
I wrote earlier that the SEC was wrong to extend its “admission of wrongdoing” policy (once reserved for extreme cases) to negligent software-glitch misreporting of trade-data in the Scottrade case...more
The SEC famously announced last year that it would insist upon admissions in settled cases involving egregious conduct – instead of its long-standing “neither admit nor deny” rubric. But its recent Scottrade action has the...more