FedEx Beats Investors' Cyberattack Suit For Good

By Sarah Jarvis (February 4, 2021, 7:58 PM EST) -- A New York federal judge on Thursday permanently dismissed claims brought against FedEx by a proposed class of investors alleging that the company downplayed the financial hit caused by the 2017 NotPetya cyberattack, saying the company made numerous disclosures that contradict the investors' claims.

U.S. District Judge Ronnie Abrams granted FedEx's motion to dismiss, finding that the shareholders failed to adequately show that the company knowingly made false or misleading statements regarding the ransomware attack on TNT Express BV, a company headquartered in the Netherlands that FedEx had recently acquired.

"FedEx's numerous disclosures during the class period belie plaintiff's contention that...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Read the full article

Already a subscriber? Click here to login