RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Marriott International, Inc. (“Marriott” or the “Company”) (NASDAQ: MAR) securities between November 9, 2016 and November 29, 2018, inclusive (the “Class Period”).
Marriott shareholders may, no later than January 30, 2019, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Marriott and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that, 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 November 30, 2018, Marriott announced that its guest reservation system had been hacked, potentially exposing the personal information of approximately 500 million guests. On this news, shares of Marriott fell $6.81 or nearly 6%, to close at $115.03 on November 30, 2018, thereby injuring investors.
If you are a member of the class, you may, no later than January 30, 2019, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.