Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Marriott International, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Marriott International, Inc. (“Marriott” or the “Company”) (NASDAQ:MAR) of the January 30, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Marriott stock or options between November 9, 2016 and November 29, 2018 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all those who purchased Marriott securities between November 9, 2016 and November 29, 2018 (the “Class Period”). The case, McGrath v. Marriott International, Inc. et al, No. 1:18-cv-06845 was filed on December 1, 2018.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose 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.
Specifically, on November 30, 2018, before market hours, Marriott reported a potential data breach involving the personal information of 500 million guests. According to the release, there had been unauthorized access to the Starwood network since 2014.
On this news, the Company’s stock price fell from $121.84 per share on November 29, 2018 to $115.03 per share on November 30, 2018—a $6.81 or 5.59% drop.
Marriott International, Inc. (MAR)
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Filed on 12/03/2018
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