Marriott International, Inc. Securities Litigation
On or around 08/22/2019 (Ongoing date of last review)
Filing Date: December 01, 2018
According to the Complaint, Marriott International, Inc. ("Marriott" or the Company) operates, franchises, and licenses hotel, residential, and timeshare properties worldwide.
The Complaint alleges that during the Class Period, Defendants made false and/or misleading statements and/or failed 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.
On February 6, 2019, this case was ordered to be transferred to the District Court of Maryland. The case continues under Docket 19-CV-00368. On April 29, the Court issued an Order appointing Lead Counsel and members of a Steering Committee for the Consumer Plaintiffs, Financial Institution Plaintiff, Derivative Action Plaintiffs, and Securities Action Plaintiffs. Lead Plaintiff filed an amended consolidated Complaint on August 5. Lead Plaintiff corrected the amended consolidated Complaint on August 21.
Company & Securities Information
Defendant: Marriott International, Inc.
Industry: Hotels & Motels
Headquarters: United States
Ticker Symbol: MAR
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Dennis McGrath, et al. v. Marriott International, Inc., et al.