Court Appoints Faruqi & Faruqi, LLP Co-Lead Counsel in Shareholder Derivative Action on Behalf of The Wendy’s Company and Its Shareholders

On December 17, 2018, the Honorable Timothy S. Black, United States District Court  of the Southern District of Ohio, appointed Faruqi & Faruqi, LLP and Strauss Troy as Co-Lead Counsel in In re The Wendy’s Company Shareholder Derivative Action, Case No. 1:16-cv-01153-TSB. The case involves the well-publicized data breach that occurred at Wendy’s franchisees from October 2015 through at least June 2016. The Court in issuing its order resolving the competing motions for lead counsel was “particularly impressed with the Faruqi firm because of its experience in In re The Home Depot, Inc. Shareholder Derivative Litigation, Lead Case No. 1:15-cv-2999-TWT (N.D. Ga.) (“Home Depot Derivative Action”),” in which the Faruqi firm acting as Co-Lead Counsel was successful in reaching “the first settlement ever achieved in a data breach shareholder derivative lawsuit.” Judge Black noted that at least one news organization stated that  the Home Depot Derivative Action settlement “may be a good corporate security governance blueprint for other companies.” The Court was also “impressed with the expert retained” by the Faruqi firm, “a cybersecurity expert with experience as a former national security executive with the FBI.”