On August 24, 2009, Judge Lee Rosenthal in the Southern District of Texas appointed Michael Caddell as Co‑Lead Counsel for a class of banks, credit unions and other financial institutions in a multi-district litigation case against Heartland Payment Systems. Heartland processes payment card transactions for about 250,000 merchants and handles an average of more than 100 million transactions per month and more than $80 billion in transactions a year. Heartland provides merchants with the ability to accept debit and credit cards as payments by connecting the merchants’ card terminals with the card issuer to verify the transaction, and then moving the funds from the issuing bank to the merchant’s bank account. In late January 2009, Heartland admitted that it had a massive security breach resulting in the compromise of up to 100 million credit card numbers resulting from a break into Heartland’s systems, perhaps as early as May 2008. Software that was used to steal card data was implanted into Heartland’s systems. As a result of this breach, confidential information regarding Plaintiffs’ customers, and the credit card accounts Plaintiffs established for its customers was compromised.
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