Law360 reports that Travelers Casualty and Surety Co. has settled its lawsuit against Ignition Studio Inc. The suit had alleged that Ignition Studio had not adequately secured Alpine Bank’s web site, resulting in a hack in 2012.
Yesterday, both parties stipulated to the “dismissal of this action in its entirety with prejudice, each party to bear its own costs, expenses and attorneys’ fees.”
I’m not quite sure I understand what happened there, but Ignition Studio’s motion to dismiss for failure to state a claim argued that the law barred such contract claims based on economic loss doctrine. Traveler’s did not seem to have a response to that.