Wyndham Execs Slapped With Investor Suit Over Data Breach
Law360, New York (May 6, 2014, 3:02 PM EDT) -- A Wyndham Worldwide Corp. shareholder has filed a derivative action on behalf of the company in New Jersey federal court, accusing the hotel chain's top brass of causing financial harm by instituting lax data security controls that led to three breaches in less than two years, according to a redacted complaint made public on Friday.
Shareholder Dennis Palkon alleges that Wyndham's board and top executives harmed the company financially by failing to take adequate steps to safeguard customers' personal and financial information, according to the redacted complaint. The breaches allegedly allowed thieves to obtain personal records from more than 619,000 customers...
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