According to the Complaint, Capital One operates as the bank holding company for the Capital One Bank (USA), National Association and Capital One, National Association, which provides various financial products and services in the United States, the United Kingdom, and Canada.

According to the Complaint, Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company did not maintain robust information security protections, and its protection did not shield personal information against security breaches; (2) such deficiencies heightened the Company’s exposure to a cyber-attack; and (3) as a result, Capital One’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On November 20, 2019, this case was transferred to the Eastern District of Virginia under Docket 19-MD-02915. On December 18, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on January 17, 2020.