New York, New York--(Newsfile Corp. - October 7, 2019) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Capital One Financial Corporation (NYSE: COF) ("Capital One" or the "Company") of the December 2, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
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If you invested in Capital One stock or options between February 2, 2018 and June 29, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/COF. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all those who purchased Capital One securities between February 2, 2018 and June 29, 2019 (the "Class Period"). The case, Minsky v. Capital One Financial Corporation, No. 19-cv-05594 was filed on October 2, 2019, and has been assigned to Judge Carol Bagley Amon.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing 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.
On July 29, 2019, after the market closed, Capital One announced in a press release that on July 19, 2019, Capital One suffered a data breach affecting over 106 million individuals in the United States and Canada.
According to the criminal complaint brought by the Federal Bureau of Investigation against Paige A. Thompson, the purported hacker, though some of the data was tokenized or encrypted, "data including applicants' names, addresses, dates of birth and information regarding their credit history ha[d] not been tokenized." United States of America v. Paige A. Thompson, a/k/a "erratic", Case No. MJ19-0344 (W.D. Wash. Jul. 29, 2019) (Compl. at 8).
On this news, Capital One's stock price fell from $96.92 per share on July 29, 2019 to $91.21 per share on July 30, 2019-a $5.71 or 5.89% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Capital One's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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