Capital One Wins Dismissal Of Credit Card Marketing Suit

Law360, New York (June 24, 2013, 10:09 PM EDT) -- A Virginia federal judge Friday dismissed a consolidated shareholder derivative suit seeking to hold Capital One Financial Corp. directors and officers accountable for allowing the bank to engage in deceptive credit card marketing that led to $210 million in payouts and penalties, ruling the plaintiffs had not plausibly backed their claims.

Shareholders Iron Workers Mid-South Pension Fund and Kim Barovic’s had not plausibly alleged their claims that the bank’s top brass had failed to supervise its third-party call centers properly, therefore allowing the deceptive credit card...
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