Financial/Banking

Many fingers pointed at Target after the retailer suffered a massive data breach during the holidays, but preventing the next cyber attack is beyond the scope of any single company, according to testimony retail representatives shared with lawmakers on Monday.

Milwaukee – Roundy’s, Inc. will be offering 2,948,113 shares of its common stock, and certain selling stockholders will be offering 5,896,226 shares of the company’s common stock. The underwriters will be granted a 30-day option to purchase up to an additional 1,326,650 shares of common stock from the selling stockholders, all at the offering price less the underwriting discount.

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.

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.

Washington, D.C. – The National Retail Federation (NRF) is scheduled to testify before a Senate committee the week of Feb. 3, as lawmakers begin to look into criminal attacks in which millions of consumers’ credit and debit card numbers were stolen.

Northbrook, Ill. — Pine Tree Commercial Realty has acquired two shopping centers, one in Nevada and the other in Missouri. The developer has also broken ground on four properties, two in Illinois, one in Idaho, and one in California.

The activity brings Pine Tree’s current portfolio to 3.2 million sq. ft. in 24 properties.

Princeton, N.J. -- Heartland Payment Systems has filed a federal lawsuit against Mercury Payment Systems, 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.

Foster City, Calif. – Global credit and debit card issuer Visa Inc. has publicly called for adoption of secure payment technology in response to recent high-profile retailer data breaches. In a short statement contained within a financial release, Visa CEO Charlie Scharf said Visa wants to move U.S. retailers toward PIN-and-chip cards that use the Europass, Matercard, Visa (EMV) standard, and away from the more commonly used magnetic stripe cards.