Merrick Exits $60M Credit Card Data Breach Suit

Law360, New York (December 21, 2011, 9:33 PM EST) -- Credit card processor MSI Merchant Services Inc. on Wednesday resolved its $60 million suit against Merrick Bank Corp. over a 2005 incident that compromised the personal data of more than 40 million credit card customers.

U.S. District Judge Leonard B. Sand signed off on a stipulation dismissing the case with prejudice, each party bearing its own costs. The stipulation provided no details of any kind of settlement agreement.

MSI's September 2010 complaint claimed Merrick and its parent corporation, co-defendant CardWorks Inc., had committed negligence, breach of...
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