On Friday, January 31, 2014, First Choice Federal Credit Union
("First Choice") of New Castle, Pennsylvania filed a class
action complaint in the United States District Court for the
Western District of Pennsylvania against Target Corporation.
The lawsuit is brought on behalf of all banks, credit
unions and other financial institutions in the United States who
suffered damages resulting from the recent security breach that
compromised Target store customers' names, credit and debit card
numbers, card expiration dates, personal identification numbers,
and card verification values.
The complaint alleges that many financial institutions
nationwide, including First Choice, incurred significant costs
stemming from the Target data breach. First Choice brings
claims on behalf of any financial institutions who, as a result of
the data breach, were forced to (a) cancel or reissue access
devices affected by the breach; (b) close deposit, transaction,
share draft, or other accounts affected by the breach, including
but not limited to stopping payments or blocking transactions with
respect to the accounts; (c) open or reopen any deposit,
transaction, share draft, or other accounts affected by the breach;
(d) refund or credit any cardholder to cover the cost of any
unauthorized transaction relating to the breach; or (e) notify
cardholders affected by the breach.
First Choice further alleges that Target knew or should have
known that its payment processes were vulnerable to type of attack,
yet the company failed to take adequate measures to protect
sensitive data and did not inform customers or financial
institutions about the ongoing data breach for several weeks after
it was discovered, resulting in increased damages for First Choice
and other financial institutions.
Representatives of financial institutions who believe that their
institutions have been adversely impacted by the Target data breach
may obtain additional information by contacting Shanon J.
Carson at (215) 875-4656 or Alexandra L. Koropey (215)