Banks pull out of lawsuit vs. Target, Trustwave over data breach

Trustmark National Bank, which is based in New York, and Houston-based Green Bank NA said they would dismiss their cases "without prejudice to re-filing," according to filings on Friday and Monday in the federal court in Chicago. The banks had accused Target and Trustwave of failing to properly secure customer data, leading to the theft of about 40 million payment card records and 70 million other records during last year's holiday shopping season. But on Saturday, Trustwave Chief Executive Robert McCullen told clients saying that Target did not outsource data security to his Chicago-based company, and that Trustwave did not monitor Target's network or process its cardholder data.

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