U.S. Court of Appeals for the Fourth Circuit
Fourth Circuit affirms district court’s dismissal of complaint alleging violations of federal securities laws by supposed omission of material information about data vulnerabilities in company’s public statements
April 21, 2022
The opinion upholds the district court’s ruling that none of the relevant statements were false or misleading when made.
U.S. Chamber urges Fourth Circuit to affirm district court’s ruling
October 28, 2021
Click here to view the Chamber’s amicus brief urging the Fourth Circuit to affirm the district court’s ruling that when a company cautions investors in risk factors about the risk of potential cyberattacks, it does not have to detail publicly all of its cybersecurity vulnerabilities to avoid liability for securities fraud. Judson O. Littleton and Daniel J. Richardson of Sullivan & Cromwell LLP and the U.S. Chamber’s Litigation Center served as co-counsel for the U.S. Chamber.
- Opinion -- In re Marriott International, Inc. Customer Data Security Breach Litigation (D. Md.).pdf
- U.S. Chamber Amicus Brief -- Construction Laborers Pension Trust Southern CA v. Marriott International, Inc. (Fourth Circuit).pdf
- Opinion -- Construction Laborers Pension Trust Southern CA v. Marriott International, Inc. (Fourth Circuit).pdf