FINANCE

Mercury Payment Systems will defend against Heartland suit

BY Dan Berthiaume

Chicago – Mercury Payment Systems plans to have its day in court against Heartland Payment Systems. Mercury has indicated it will contest the federal lawsuit Heartland Payment Systems filed, charging the company with false advertising, unfair competition, intentional interference with contractual relations, and intentional interference with prospective economic advantage. The suit, filed in U.S. District Court in the Northern District of California, San Francisco Division, alleges that Mercury is illegally competing against Heartland with deceptive trade practices.

“Mercury will vigorously defend against the lawsuit filed by Heartland,” Mercury Payment Systems said in an email to Chain Store Age. “Mercury Payment Systems’ rapid growth in the electronic payments market is directly attributable to the value and flexibility we provide our merchants and partners, and we stand by our business and pricing practices. We are proud of our consistently high satisfaction rates and low merchant attrition rates among merchant acquirers over the past 10 years.”

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OPERATIONS

Anna’s Linens names Gladstone CEO

BY Dan Berthiaume

Costa Mesa, Calif. – Anna’s Linens has named company president Scott Gladstone CEO. Founder and former CEO Alan Gladstone will remain as chairman of the board.

Gladstone, 44, joined Anna’s Linens in 2005 and was named president of the company in 2012. Prior to joining Anna’s, Gladstone spent 10 years as president of the U.S. division of Sparco, a global manufacturer of automotive performance products and safety equipment.

“Scott has spent the last eight years at Anna’s bringing innovation and business improvements to many different areas of the company,” said Gladstone. “I am proud of what we have done together and have absolute confidence that he is the person who can lead us in writing the next chapter of Anna’s history.”

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FINANCE

Report: Target offers few details in Congressional briefing; could face $1 billion fine

BY Dan Berthiaume

Minneapolis – A Target representative reportedly offered few new details during a phone briefing with members of Congress about its holiday data breach. According to Reuters, Target official Isaac Reyes spent about an hour on the phone with members of the House of Representatives Oversight Committee on the evening of Jan. 30.

Reyes reportedly told Congress Target was informed of the data breach by the Department of Justice on Dec. 12, but would not say if the retailer knew beforehand, citing ongoing law enforcement investigation. Reyes also reportedly said Target believes it has complied with all state and federal regulations on disclosing the breach.

In addition, Jefferies analyst Daniel Binder said that Target could face between $400 million and $1.1 billion in fines due to the breach, higher than previously thought.

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S.Stone says:
Feb-03-2014 06:02 pm

Fines??
I still find it amazing that retailers are fined for trying to do their job. When banks are robbed do we fine the banks? When a burglary occurs at a business do we fine the business? What about the US Government. Were they fined when Edward Snowden stole information? How about this? Instead of continuing to fine retailers who are striving to protect data and provide services to their customers, the government focuses on (a) finding the perpetrators of these crimes, and (b) increases the penalties for cyber CRIMINALS to levels that would dissuade future activities. Not trying to over simplify this issue. But the people in data security at Target, Neimen, and Michael's all were trying to do the right thing and were certifying to industry practices.

S.Stone says:
Feb-03-2014 06:02 pm

I still find it amazing that retailers are fined for trying to do their job. When banks are robbed do we fine the banks? When a burglary occurs at a business do we fine the business? What about the US Government. Were they fined when Edward Snowden stole information? How about this? Instead of continuing to fine retailers who are striving to protect data and provide services to their customers, the government focuses on (a) finding the perpetrators of these crimes, and (b) increases the penalties for cyber CRIMINALS to levels that would dissuade future activities. Not trying to over simplify this issue. But the people in data security at Target, Neimen, and Michael's all were trying to do the right thing and were certifying to industry practices.

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