Federal Court of Appeals for the First Circuit has reversed a decision from August 2011 that held that Ocean Bank (now Peoples United) was not at fault for a $588,000 cyberheist in 2009 against one of its customers. The appeals court sent specific aspects of the earlier decision back to the lower court for review, but encouraged both parties to settle the matter out of court. The decision could open the door lawsuits from small businesses that have been similarly victimized with the help of outdated security procedures at their banks.”]
Source: https://krebsonsecurity.com/2012/07/court-ruling-could-be-boon-to-cyberheist-victims/