Lawsuit Overview
Nov. 7, 2012 (Shareholders Foundation) -- An investor in shares of Capital One Financial Corp. (NYSE:COF) filed a lawsuit against directors of Capital One Financial Corp in connection with credit card marketing.
The plaintiff alleges that the defendants breached their fiduciary duties by allowing Capital One Financial Corp to engage in credit card marketing that allegedly led to over $200 million in penalties and refunds.
Capital One Financial Corp. (NYSE:COF) reported that its Net Income rose from over $2.74 billion in 2010 to over $3.22 billion in 2011.
Shares of Capital One Financial Corp. (NYSE:COF) grew from as low as $8.31 per share to as high as $59.53 per share on October 4, 2012.
However, its Net Income fell from over $1.85 billion in the first quarter 2012 to $236.00 million in the second 2012 quarter.