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Marriott International, Inc. (NASDAQ: MAR) Investor Securities Class Action Lawsuit 12/03/2018

  • If you purchased shares of Marriott International, Inc. (NASDAQ: MAR), you may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Marriott International, Inc.
Security
NASDAQ: MAR

Case Name
Marriott International Sahreholder Class Action Lawsuit 12/03/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Maryland

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

June 11, 2021 - The court granted the defendants' motion to dismiss.

September 8, 2020 - A motion to dismiss the third amended consolidated complaint was filed.

July 24, 2020 - A third amended consolidated complaint was filed.

September 16, 2019 - A second amended consolidated complaint was filed.

August 5, 2019 - An amended consolidated complaint was filed.

February 6, 2019 - The case was transferred to the U.S. District Court for the District Maryland.

December 1, 2018 - An investor in shares of Marriott International, Inc. (NASDAQ: MAR) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Marriott International, Inc. in connection with certain allegedly false and misleading statements made between November 9, 2016 and November 29, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Marriott International, Inc. (NASDAQ: MAR) common shares between November 9, 2016 and November 29, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between November 9, 2016 and November 29, 2018, the Defendants made false and/or misleading statements and/or failed to disclose that Marriott's and Starwood's systems storing their customers' personal data were not secure, that there had been unauthorized access on Starwood's network since 2014, that 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 that as a result, Marriott's public statements were materially false and/or misleading at all relevant times.

Bethesda, MD based Marriott International, Inc. operates, franchises, and licenses hotel, residential, and timeshare properties worldwide.

On November 30, 2018, before trading, Marriott International, Inc. revealed a hack of its Starwood hotels guest database, potentially affecting an astounding 500 million people who booked stays at a Starwood property for many years. Shares of Marriott International, Inc. (NASDAQ: MAR) declined to as low as $113.38 per share on November 30, 2018.