Two banks drop suit against Target

New York -- Two U.S. banks have dropped their lawsuit against Target Corp. and its credit card security assessor, Trustwave Holdings Inc. The banks had accused Target and Trustwave of failing to properly secure customer data, leading to the retailer’s data breach during last year’s holiday season.



The banks, Trustmark National Bank and Green Bank N.A., which had accused Target and Trustwave of failing to properly secure customer data, offered no reason for their dismissal of the suit. They said they would dismiss their cases "without prejudice to re-filing,” according to the filings.