Scottrade, Travelers End Suit Over $14M Hacking Loss

Law360, New York (March 23, 2011, 2:07 PM EDT) -- Scottrade Inc. and a subsidiary of Travelers Cos. Inc. have settled a dispute over insurance coverage for a computer hacking scheme that cost the online stock broker $13.8 million.

The settlement was revealed Tuesday by Judge Stephen N. Limbaugh Jr. of the U.S. District Court for the Eastern District after a mediator told the court that the parties reached a settlement through negotiations. Settlement details were not disclosed due to a confidentiality agreement, an attorney said.

“Like most settlements, both sides are a little bit unhappy,...
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