Scottrade Facing Data Breach Class Action Lawsuit

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Tampa, FL Scottrade, the discount brokerage service, is facing a data breach class action lawsuit filed by a woman in Florida who claims the personal and financial information of herself and potential millions of others has been compromised as a result of the breach.

Filed by Angela Martin, individually and for all others similarly situated, the lawsuit states Scottrade's failure to protect and adopt adequate security, best practices and industry standards regarding data security and retention, has resulted in millions of customers' sensitive personal and financial information being compromised.

Scottrade currently operates an online trading website, which was hacked over the course of several months from late 2013 to early 2014, the complaint states.

Further, the suit states that Scottrade itself estimated nearly 4.6 million customers have been affected by the data breach. However, the company has only bgan notifying customers of the data breach in October, but its notice is deficient and fails to fully explain the nature and cause of the breach.

The suit claims breach of express and implied contract, violation of consumer fraud laws of multiple states, and negligence. Plaintiffs are represented by attorneys Geoffrey Parmer and Andy Dogali of Dogali Law Group in Tampa, and by attorneys Karen Hanson Riebel and Kate M. Baxter-Kauf of Lockridge Grindal Nauen in Minneapolis. The lawsuit is Tampa Division of the Middle District of Florida Case number 8:15-CV-02791-SCB-EAJ.



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