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slightly favor the merchants and not the issuing banks. 57However, in a Consolidated Class Action Complaint filed in Minnesota federal courtAugust 1, 2014, the banks and credit unions (the “issuing banks”) that issued the debitand credit cards of the one hundred million Target customers whose financialinformation was stolen in the data breach brought claims for negligence, violation of theMinnesota Plastic Card Security Act, Minn. Stat. § 325E.64, negligence per se, andnegligent representation by omission. 58The issuing banks allege they suffered over$18 billion dollars in damages from having to notify customers about the breach, cancelhacked accounts, deal with customer confusion, and replace cards, all during thebusiest shopping season of the year. 59Target argued the issuing banks’ expenditures were not its responsibility under thenegligence theory because the issuing banks failed to demonstrate a specialrelationship between Target and the issuing banks, and moved to dismiss theComplaint. However, the Court determined the case was about basic negligence andnot third-party harm, finding the issuing banks adequately alleged that they wereforeseeable victims of Target’s inadequate security measures. 60In denying Target’sMotion to Dismiss, the Court stated further that the ruling “will aid Minnesota’s policy of57 Compare Pennsylvania State Emps. Credit Union v. Fifth Third Bank, 398 F. Supp. 2d 317 (M.D. Penn.2005) with Lone Star Nat’l Bank NA et al. v. Heartland Payment Sys., Inc., 729 F.3d 421 (5th Cir. 2013)(finding that under New Jersey law the economic loss doctrine “does not bar tort recovery where thedefendant causes an identifiable class of plaintiffs to which it owes a duty of care to suffer economicloss that does not result in boundless liability” if the plaintiffs otherwise “would be left with no remedy.”).58 In re: Target Corporation Customer Data Security Breach Litigation, No. 0:14-md-02522-PAM, Dkt No.163 (D. Minn. Dec. 2, 2014).59 Id.60 Id.March 6, 2015 30 © 3-6-2015 ALFA International Business Litigation P.G.