The multidistrict litigation against Target Corp. over last year’s massive data breach stumbled to the starting line, with the first consolidated class action filed on Friday.
The complaint was filed on behalf of thousands of financial institutions asserting losses of as much as $18 billion when hackers stole credit and debit card information and other personal data affecting 110 million customers during the holiday season. The costs were incurred in reissuing cards, reimbursing customers and changing or canceling accounts.
