Target Becomes Legal Target Following Security Breach
Target Corp. (NYSE:TGT) is entering legal damage control mode after a massive security breach potentially affected millions of customers’ personal information. On Monday, company Executive Vice President and general counsel Timothy Baer conducted a conference call with several state attorneys general.
The company isn’t saying which states participated in the call. A person with information on the matter told The Wall Street Journal the calls lasted approximately 30 minutes, and that another call is scheduled for shortly after the start of the new year. Reuters reports that so far, at least 15 lawsuits have been filed against the retailer; all are seeking class-action status. In the suits, the claimants say Target failed to ensure their personal data were secure and/or did not notify customers of the breach quickly enough.
On December 19, Target announced that between November 27 and December 15, its systems had been compromised and that approximately 40 million credit or debit cards may have been affected. At the time, Target said it was ”partnering with a leading third-party forensics firm to conduct a thorough investigation.”
Few details have emerged from Target about the lawsuits or the investigation. This is causing state attorneys general like Connecticut’s George Jepsen to take action and demand information. Jepsen sent a letter to Target outlining 10 steps he wishes to see the company take that will provide greater transparency for consumers.