Marriott Hit with Data Breach-Related Securities Lawsuit

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). Turns out, I didn’t give the plaintiffs’ lawyers nearly enough credit for haste. The plaintiffs’ lawyers managed to file a securities class action lawsuit against the company on December 1, 2018, just one day after Marriott announced the breach. The lawsuit is the latest example both of a data breach-related D&O lawsuit and an event-driven securities suit, as discussed further below.   Background On November 30, 2018, Marriott issued a press release announcing that hackers had breached its Starwood guest reservation system and stolen the personal data of as many as 500 million guests. The company announced that on September 8, 2018 an…

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