The payment processor Heartland Payment Systems Inc. said Wednesday that the consolidated shareholder class action against it was dismissed this week.
The lawsuit, which named several Heartland executives as defendants, was in response to a data breach the Princeton, N.J., company disclosed in January.
It was dismissed with prejudice on Monday by a judge for the U.S. District Court for the District of New Jersey.
Heartland has been the subject of lawsuits and industry scrutiny after disclosing a massive data breach this year. Though Heartland had passed multiple audits for compliance with the Payment Card Industry data security standard, it said these audits failed to uncover long-standing security issues.
Heartland has since used the incident as a launching point for its push for end-to-end encryption of payment data, a method that goes beyond the requirements set by the PCI standard.
