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Capital One Financial Corporation (NYSE: COF) Investor Securities Class Action Lawsuit 10/02/2019

  • If you purchased shares of Capital One Financial Corporation (NYSE: COF), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Capital One Financial Corp.
Security
NYSE: COF

Case Name
Capital One Shareholder Class Action Lawsuit 10/02/2019
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Eastern District of Virginia

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Summary

January 17, 2020 - An amended complaint was filed.

November 20, 2019 - The case was transferred to the U.S. District Court for the Eastern District of Virginia.

October 2, 2019 - An investor in shares of Capital One Financial Corporation (NYSE: COF) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Capital One Financial in connection with certain allegedly false and misleading statements made between February 2, 2018 and July 29, 2019.

On July 29, 2019, McLean, VA based Capital One Financial Corporation disclosed that it had suffered a massive data breach, reporting that an outside hacker had obtained the personal data of more than 100 million customers and credit card applicants. Shares of Capital One Financial Corporation (NYSE: COF) declined from $98.62 per share on July 26, 2019 to $85.36 per share on August 7, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Capital One Financial Corporation (NYSE: COF) common shares between February 2, 2018 and July 29, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between February 2, 2018 and July 29, 2019, the defendants made false and/or misleading statements and/or failed to disclose that the Company did not maintain robust information security protections, and its protection did not shield personal information against security breaches, that such deficiencies heightened the Company’s exposure to a cyber-attack, and that as a result, Capital One’s public statements were materially false and misleading at all relevant times.