Scottrade Seeks $13.8M For Hack Attack Losses

Law360, New York (November 12, 2009, 6:07 PM EST) -- Online securities brokerage Scottrade Inc. has asked a federal court to compel a Travelers Cos. Inc. subsidiary to pony up coverage for $13.8 million in losses incurred as a result of an elaborate “hack-pump-and-dump” scheme that compromised Scottrade's computer networks.

Scottrade filed a complaint against Travelers insurer The St. Paul Mercury Insurance Co. on Thursday in the U.S. District Court for the Eastern District of Missouri, seeking $13.8 million in damages, plus 9 percent prejudgment interest and related costs, for the insurer's alleged failure to provide...
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