FedEx Tries To Shake Derivative Suit Over Cyberattack

By Reenat Sinay (March 2, 2020, 3:43 PM EST) -- FedEx, its executives and board of directors told a Delaware federal judge they should be excused from a shareholder derivative suit over a 2017 cyberattack, arguing the investors never raised concerns to the board that the company was downplaying the impact of the hack.

The defendants rebutted allegations that they minimized the severity of a massive cyberattack known as "NotPetya" on the company's European subsidiary while shedding company stock, urging the court Friday to dismiss claims of federal securities violations, breach of fiduciary duty, waste of corporate assets, and unjust enrichment.

Named plaintiffs Jason Flaker and Darryl Payton haven't shown that...

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