Fergie's Tech Blog

Ruling Helps TJX Reduce Liability in Data Breach Case

Evan Schuman writes on eWeek:

In a pair of crucial decisions, TJX has moved closer to completely clearing itself of the lawsuits from the world's worst credit card data breach.

Those two rulings came from the federal judge overseeing the case—who refused to approve making the case a class action—and from Visa, which said it would reduce its fining of The TJX Companies in exchange for certain payments from the retailer to banks.

On the afternoon of Nov. 29, U.S. District Court Judge William Young denied the request to grant the bank class action certification, ruling that the many of the banks' situations were too different from each other. Some of the banks had the expense of reissuing the cards while others didn't, for example.

That decision is quite likely to stand, but there are two chances for it to change. The U.S. Court of Appeals could overrule Young, and attorneys for the banks have 10 days from Nov. 29 to file an appeal.

posted by Fergie @ 11/30/2007 06:55:00 PM