Target Execs Slapped With Investor Suit Over Data Breach

By Jamie Santo (January 29, 2014, 10:53 PM EST) -- A Target Corp. investor launched a derivative suit in Minnesota federal court Wednesday, to hold the retailer's top brass liable for damage caused by the holiday season data breach that saw hackers steal personal and financial information from tens of millions of customers.

Filed by shareholder Maureen Collier, the complaint alleges that Target's board and top executives harmed the company financially by failing to take adequate steps to prevent the cyberattack then by subsequently providing customers with incomplete and misleading information about the extent of the data theft.

"Target itself has suffered considerable damage from [the] breach itself and the bungling...

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