Heartland Hit With Securities Suit Over Data Breach

Law360, New York (August 21, 2009, 6:00 PM EDT) -- Credit card transaction vendor Heartland Payment Systems Inc. has been hit with a putative securities fraud class action alleging its top executives misled the public about the security of its data systems and violated the Securities Exchange Act of 1934.

An amended complaint was filed Thursday in the U.S. District Court for the District of New Jersey, days after the federal government indicted three people for hacking into Heartland's computer system in December 2007.

About 130 million debit and credit card numbers were stolen in the...
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