by Mike Masnick
Mon, Dec 14th 2009 7:15pm
Last year, Heartland Payment Systems, leapt into the lead as being the company with the largest data breach of all time (well, that we know of), when it potentially leaked the personal info on somewhere over 100 million people. As typically happens in these sorts of things, a shareholder lawsuit was quickly filed from bummed out shareholders pissed off that the stock dropped (like off a cliff) following the announcement. But, of course, for there to be liability it takes a lot more than just the stock to drop, so it comes as little surprise that the lawsuit has been tossed, as the court said there was no evidence that Heartland execs knew their data was exposed. Friendly reminder to litigious shareholders: just because the company screws something up, it doesn't mean you get to sue.
If you liked this post, you may also be interested in...
- Peter Thiel's Plan To Destroy Gawker Went Way Beyond Hogan's Case
- Gawker Files For Bankruptcy, Begins Process Of Auctioning Itself Off
- Publisher Threatens Writers Association With Defamation Suit After Being Kicked Out For Not Paying Royalties
- Yes, A Billionaire Looking To Destroy A Media Organization Through Lawsuits Is A Big Deal Even If You Don't Like The Media Organization
- Silicon Valley Billionaire Peter Thiel Accused Of Financing Hulk Hogan's Ridiculous Lawsuits Against Gawker