Home

Three Houston Law Firms Critical of Proposed Settlement Against Heartland Payment Systems
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

A settlement offering credit unions and other card issuers pennies on the dollar for the losses they incurred because of Heartland Payment Systems’ 2008 card data security breach has come under fire by the three Houston law firms representing the issuers – Caddell & Chapman, the Coffman Law Firm and Chimicles & Tikellis.

The law firms also are critical of the fact that Heartland and Visa are pushing credit unions and other issuers to make a decision as to whether or not to accept the settlement within a matter of weeks. In addition, the settlement releases Keybank and Heartland Bank – Heartland acquiring banks – from liability for the security breach, with no contribution to the issuers’ losses.

“It certainly makes one wonder,” stated interim co-lead counsel Richard Coffman of the Coffman Law Firm, “why VISA would secretly negotiate a settlement on behalf of its issuers that lets the two richest potentially culpable parties off the hook with little, if any, financial investment and then force its issuers to decide within two weeks whether to accept the deal. If I were an executive of a financial institution harmed by the Heartland data breach, I would seriously question whether VISA truly has the best interests of its network members at heart.”

  
What
Where




 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-level Litigation Attorney with motions experience

USA-WA-Seattle

Seattle office of our client seeks mid-level litigation attorney with 3-5 years of experience, inclu...

Apply Now

Environmental /Land Use Attorney with 2-3 years of experience

USA-CA-San Francisco

San Francisco office of our client seeks environmental /land use attorney with 2-3 years of experien...

Apply Now

Litigation Attorney with 2-5 years of insurance defense experience

USA-FL-Jacksonville

Jacksonville office of our client seeks litigation attorney with 2-5 years of previous insurance def...

Apply Now

Tax Associate with Real Estate / Capital Markets Experience

USA-IL-Chicago

Chicago office is seeking a tax attorney with 3-5 years of experience. Significant experience in rea...

Apply Now

RELEVANT JOBS

Research Briefing Attorney

USA-TX-The Woodlands

Boutique Plaintiff’s Law firm located in The Woodlands, Texas is seeking a 3-6 year case resea...

Apply now

Litigation Attorney

USA-TX-The Woodlands

Boutique Plaintiff’s Law firm located in The Woodlands, Texas is seeking a 6–10 year lit...

Apply now

IP Paralegal

USA-TX-Austin

Responsibilities include preparing and filing a variety of documents with USPTO including patent app...

Apply now

Executive Legal Assistant

USA-CA-Long Beach

JOB SUMMARY: Reporting to Managing Partner, the Executive Assistant provides executive support an...

Apply now

Most Popular

SEARCH IN ARCHIVE

To Top