Banks, issuers of credit and debit cards, appeal the dismissal of their negligence claims related to the breach of a processor's data systems. The economic loss doctrine under New Jersey law does not preclude the issuer banks 'negligence claim against the processor at the motion to dismiss stage. The district court's dismissal is reversed and remanded. 5th U.S. Circuit Court of Appeals, No. 12-20648, 09-03-2013.
Lone Star National Bank, N.A. v. Heartland Payment Systems, Inc.
October 9, 2013