Faruqi & Faruqi, Co-Lead Counsel, Obtains Final Court Approval of Historic Data Breach Shareholder Derivative Case, In re The Home Depot Shareholder Derivative Litigation

On October 2, 2017, the Honorable Thomas W. Thrash, Jr., Chief Judge of the United States District Court for the Northern District of Georgia, granted final approval of the proposed settlement in In re The Home Depot, Inc., Shareholder Derivative Litigation, Lead Case No. 1:15-CV-2999-TWT. F&F, as co-lead counsel, represent stockholders of The Home Depot, Inc. as of  April 21, 2017 in connection with the well-publicized data breach previously disclosed in September 2014. The Settlement provides for extensive corporate governance reforms directly connected to the cyber security issues raised in the Consolidated Amended Complaint and intended to enhance protection, deterrence,  and detection against future data breaches, and mitigate any ensuing damages as a result of such data breach. This is the first ever settlement of a shareholder derivative law suit based on  a company suffering a data breach.  Partner Stuart Guber and Senior Associate Nina Varindani headed the successful litigation.