Heartland Update: Class Action Suit Filed

Heartland Update: Class Action Suit Filed

Processor Charged with 'Belated and Inaccurate statements' about Breach

January 29, 2009 - Linda McGlasson, Managing Editor

Exactly one week after the Heartland Payment Systems (HPY) breach was first announced to the public, the first lawsuit has been filed against the payments processor.

The class action lawsuit filed Tuesday by Chimicles & Tilellis LLP of Haverford, PA in the U.S. District Court for the District of New Jersey on behalf of Woodbury, MN resident Alicia Cooper, asserts that Heartland "made unreasonably belated and inaccurate statements concerning the breach."

The complaint says Heartland does not appear to be offering any credit monitoring services or other relief to consumers affected by the breach. Chimicles & Tilellis' complaint also says in addition to the questionable timing of the announcement of its breach, (Read Heartland Class Action suit PDF) "there are materially misleading statements and omissions in Heartland's public description of the breach and its consequences."

Heartland announced the breach in a press release on the same morning of President Barack Obama's inauguration. (Full text at www.bankinfosecurity.com)

All I can say is that Heartland better contact the best in the world for their HUGE new problem, if they haven't already, and that is Kroll Fraud Solutions. This is what they do best, protecting people from id theft and offering restoration services if an identity is compromised.

I will actually be surprised if this doesn't bankrupt Heartland because fixing the situation (helping the victims) will cost more than the fines from the FTC for the violation.

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