A Capital One Financial Corp. investor filed what looks to be the first federal securities suit over the data breach announced in July, in New York federal district court.
The commercial banking firm allegedly misled investors about its information security measures and “heightened” exposure to online attack, according to the would-be class complaint filed in the U.S. District Court for the Eastern District of New York Oct. 2. More than 60 consumer class suits involving the breach were consolidated in Virginia federal court the same day.
Capital One’s share price fell $5.71—nearly 5.9%—the day after the company announced the breach, ...
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