Dating starwood complaints
The company announced that on September 8, 2018 an internal security tool had alerted the company of attempted unauthorized access.
While the new lawsuit against Marriott is noteworthy to the extent it represents yet another example of a data breach related securities litigation, it is also noteworthy as the latest example of an event-driven securities lawsuit.
On December 1, 2018, plaintiffs’ lawyers filed a securities class action lawsuit in the Eastern District of New York against Marriott; its CEO; its CFO; and its Chief Accounting Officer and Controller.
The lawsuit purports to be filed on behalf of a class of persons who purchased their Marriott shares between November 9, 2016 and November 29, 2018.
When news of the recent massive data breach at Marriott began circulating late last week, a colleague emailed and asked me how long I thought it would take for a D&O lawsuit to be filed.
I emailed back that I thought there would be a securities class action lawsuit before the end of business on Monday (December 3).