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Luciano Pisciotta et al v. Old National Bancorp

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On August 23, 2007, the U.S. Court of Appeals for the Seventh Circuit agreed with a lower court that there is no claim for damages for costs of past and future credit watch services subscribed to because of a data security breach. The case involved a bank whose website was hacked. The bank informed 101,000 customers or potential customers the breach could result in the theft of those customers' identities. But the court ruled that the costs of credit watch services aren't recoverable. At least that's the way the federal court decided that Indiana courts would rule when interpreting Indiana law.

Could this ruling benefit your bank in a similar situation? Read our analysis -- Info Breach, No Harm No Foul.

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