December 17, 2009 / 10:31 PM / 10 years ago

UPDATE 1-Heartland to pay AmEx $3.6 mln over '08 cyber intrusion

* Says settlement related to 2008 systems breach

* Says resolves all intrusion-related issues with AmEx

Dec 17 (Reuters) - Credit card processor Heartland Payment Systems HPY.N said it reached a settlement with American Express Co (AXP.N) related to a 2008 criminal breach of Heartland’s payment systems environment by cyber thieves.

Under the deal, Heartland will pay the credit card company $3.6 million, resolving all intrusion-related issues between the two companies, Heartland said in a statement.

“This settlement marks the first agreement with a card brand related to the intrusion,” Chief Executive Bob Carr said.

In January, Heartland said cyber thieves had breached its system in 2008 and had stolen credit card information. [ID:nN20439666]

Shares of Heartland closed at $12.46 Thursday on the New York Stock Exchange, while shares of American Express closed at $40.45. (Reporting by Jochelle Mendonca in Bangalore; Editing by Unnikrishnan Nair)

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