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Fri December 20, 2013
Target Fallout Continues After Security Breach
The fallout continues for Target Corporation, whose 1,797 stores have suffered one of the largest-ever credit card breaches in the U.S.
A class-action lawsuit was filed last night by a California shopper — the first of what lawyers expect to be a torrent of similar suits.
In addition, Target is likely to be subject to fines by card issuers for non-compliance with payment card security standards. And then, there are the fraudulent charges to consumers, which banks may also try to recoup from the Minneapolis-based company.
Target shares closed down 2.2 percent last night on the New York Stock Exchange.
Retail consultant Howard Davidowitz joins Here & Now’s Jeremy Hobson to discuss what the future holds for Target.
- Howard Davidowitz, retail consultant and founder of Davidowitz & Associates, Inc.