BNY Wins Exit From Latest Data Breach Class Action

Law360, New York (June 28, 2010, 1:27 PM EDT) -- In another victory for financial institutions regarding data breach claims, a federal judge has thrown out a putative class action alleging The Bank of New York Mellon Corp. exposed 12.5 million customers to fraud when it lost tapes containing their personal information.

Judge Richard M. Berman of the U.S. District Court for the Southern District of New York issued the ruling Friday, agreeing with other courts that the plaintiffs lacked standing because they had yet to suffer an actual injury related to the data losses....
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