Company: Marriott International, Inc.
Class Period: November 9, 2016 — November 29, 2018
Court: U.S.D.C. – Eastern District of New York
Deadline: January 30, 2019
Kaskela Law LLC announces that a class action lawsuit has been filed against Marriott International, Inc. (“Marriott” or the “Company”) (NASDAQ: MAR) on behalf of purchasers of the Company’s common stock between November 9, 2016 and November 29, 2018, inclusive (the “Class Period”).
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 complaint alleges that defendants made materially false and misleading statements during the Class Period, and failed to disclose to investors that: (1) Marriott’s and Starwood’s systems storing their customers’ personal data were not secure; (2) there had been unauthorized access on Starwood’s network since 2014; (3) 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; and (4) as a result, Marriott’s public statements were materially false and/or misleading at all relevant times. The complaint further alleges that, as a result of the foregoing, investors purchased Marriott’s common stock at artificially inflated prices during the Class Period and suffered investment losses as a result of defendants’ conduct.
IMPORTANT DEADLINE: Investors who purchased Marriott common stock during the Class Period may, no later than January 30, 2019, seek to be appointed as a lead plaintiff representative of the investor class.
Investors who purchased Marriott common stock during the Class Period and suffered a financial loss in excess of $100,000 are encouraged to contact Kaskela Law LLC at (888) 715 – 1740, or by completing the information form on this page, to discuss this action and their legal rights and options.