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Banks Detail Target Security Lapses In Class Cert. Bid

Law360, New York (August 21, 2015, 5:17 PM EDT) -- The bid for class certification by financial institutions suing Target Corp. in multidistrict litigation over the retailer's massive 2013 data breach was unsealed on Thursday, as some banks are apparently still disputing a $67 million settlement agreement with Visa Inc. announced earlier this week.

According to the memorandum in support filed on July 1, Target’s “substandard” cybersecurity practices before and during the breach allowed what could have been a controllable event to spiral into one of the largest data breaches in U.S. history. The financial institutions...
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