Capital One 2013 Annual Report Download - page 279

CAPITAL ONE FINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
the Board could not be impartial in responding to a litigation demand. The court also dismissed with prejudice
the claims for unjust enrichment and corporate waste, and the claims against the named officer defendants. The
plaintiffs filed an amended complaint in July 2013, which Capital One moved to dismiss with prejudice in July
2013. In October 2013, the court granted Capital One’s motion to dismiss the amended complaint with prejudice,
thereby dismissing the consolidated matter in its entirety.
Telephone Consumer Protection Act Litigation
In December 2012, the Capital One Telephone Consumer Protection Act (“TCPA”) Litigation Multi-district
Litigation matter was created as a result of a transfer order issued by the United States Judicial Panel on Multi-
district Litigation (“TCPA MDL”), which consolidated for pretrial proceedings in the U.S. District Court for the
Northern District of Illinois three pending putative class actions-Bridgett Amadeck, et al. v. Capital One
Financial Corporation, et al. (W.D. Washington); Nicholas Martin, et al. v. Capital One Bank (USA), N.A., et al.
(N.D. Illinois); and Charles C. Patterson v. Capital One Bank (USA), N.A., et al. (N.D. Illinois)-and several
individual lawsuits. In February 2013, the putative class action plaintiffs in the TCPA MDL filed a Consolidated
Master Class Action Complaint. The Consolidated Master Class Action Complaint and individual lawsuits allege
that COBNA and/or entities acting on its behalf violated the TCPA by contacting consumers on their cellular
telephones using an automatic telephone dialing system and/or artificial or prerecorded voice without first
obtaining prior express consent to do so. The plaintiffs seek statutory damages for alleged negligent and willful
violations of the TCPA, attorneys’ fees, costs, and injunctive relief.
Other Pending and Threatened Litigation
In addition, we are commonly subject to various pending and threatened legal actions relating to the conduct of
our normal business activities. In the opinion of management, the ultimate aggregate liability, if any, arising out
of all such other pending or threatened legal actions will not be material to our consolidated financial position or
our results of operations.
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