Heartland Payment Systems lawsuit dismissed

AP News
Posted: Dec 09, 2009 7:14 PM

Payment processor Heartland Payment Systems said Wednesday that a federal court has granted its motion to dismiss a shareholder lawsuit.

The company said the order granting its motion to dismiss was issued Monday in U.S. District Court for the District of New Jersey.

The shareholder lawsuit named the company as well as Chairman and CEO Robert O. Carr, and President and Chief Financial Officer Robert H.B. Baldwin Jr. The company said the case was dismissed with prejudice.

The lawsuit was prompted by the company's Jan. 20 disclosure of hackers breaching its database of customers' names and credit card numbers.

Heartland Payment Systems shares rose 4 cents to close at $11.61.