ARLINGTON, Va.—Home Depot is asking a federal court to dismiss the class-action lawsuit filed by FIs following its massive 2014 data breach.
That lawsuit is seeking more than $150 million to compensate for damages to credit unions and community banks.
According to court documents, the motion filed by Home Depot asserts the complaint lacks “any plausible allegation of a concrete injury traceable” to the chain and states that none of the financial institutions has alleged specific harm traceable to the data breach. Home Depot also accused the class of seeking compensation for “possible future harm” rather than previous injury. It also alleges that industry associations in the suit lack standing to assert that their entire memberships incurred damages.
NAFCU Senior Vice President of Government Affairs and General Counsel Carrie Hunt responded, “NAFCU supports all avenues for our members to recover their costs. The issues raised in this lawsuit only highlight the need for national data security standards to prevent breaches in the first place.”