A Princeton, N.J.-based company that failed to protect itself against an off-the-scale computer data breach has succeeded in fending off a securities fraud action over the resulting losses to investors.
U.S. District Judge Anne Thompson in Trenton, N.J., on Monday granted a defense motion to dismiss the case, In re Heartland Payment Systems Inc. Securities Litigation, 09-civ-1043, finding the plaintiffs failed to allege the existence of any material statement or omission or to adequately plead scienter.
