In re Capital One Derivative Shareholder Litigation

MEMORANDUM OPINION

T.S. ELLIS, III, District Judge.

In this removed shareholder derivative action, two shareholders of Capital One Financial Corporation (“Capital One”) have brought suit against Capital One’s directors and officers, alleging that the directors and officers (i) breached their fiduciary duty of loyalty, (ii) committed corporate waste, and (iii) were unjustly enriched when they failed to prevent allegedly deceptive sales practices at Capital One’s third-party call centers. In their motions to dismiss, defendants argue that plaintiffs’ claims fail because (1) plaintiffs have failed…