Company: Marriott International, Inc.
Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Marriott International, Inc. (“Marriott” or the “Company”) (NASDAQ: MAR) on behalf of investors who purchased or acquired shares of the Company’s common stock between November 9, 2016 and November 29, 2018.
On November 30, 2018, Marriott reported a potential data breach involving the personal information of 500 million guests. Following this news, shares of the Company’s common stock fell $6.81 per share, or over 5.6% in value, to close on November 30, 2018 at $115.03 per share, on heavy trading volume.
The shareholder class action lawsuit alleges that Marriott made materially false and misleading statements to investors, and failed to disclose that: (i) Marriott’s and Starwood’s systems storing their customers’ personal data were not secure; (ii) there had been unauthorized access on Starwood’s network since 2014; and (iii) consequently, the personal data of approximately 500 million Starwood guests and sensitive personal information of approximately 327 million of those guests may have been exposed to unauthorized parties.
Marriott stockholders who purchased shares of the Company’s stock prior to November 29, 2018 are encouraged to contact the firm to discuss their legal rights and potential recovery options.