See the news article here.
This was the shareholder lawsuit, not the consumer/victim lawsuit, so different issues apply. But it's still interesting. Somewhere down the road, such a case will win…likely because of a smoking gun email by IT security staff. That calls for greater communication and accountability around security, which smells like GRC to me.
DataLossDB.org maps stock price showing when the data breach occurred. Here's the chart for Heartland. Stock price isn't always affected, even in big breaches. DSW stock kept rising after its breach of 1.4 million records. TJX stock didn't seem affected either, after its big breach.
[Posted by Jonathan Penn]