Capital One Financial Corporation (NYSE:COF) shares are trading higher Monday after a judge dismissed a lawsuit against the company filed by President Donald Trump and his business.
- Capital One stock is charging ahead with explosive momentum. Why is COF stock surging?
Judge Dismisses Trump Lawsuit, Allows Refiling
According to Bloomberg, a U.S. District judge in Miami granted Capital One’s request to dismiss the lawsuit, which accused the bank of closing hundreds of accounts in 2021 due to “political discrimination.”
Judge Roy Altman said the complaint was “deficient” for multiple reasons but allowed the Trump Organization the opportunity to file an amended complaint. He added that the company had done “just enough” to suggest the accounts may have been closed due to political animus, though the filing lacked specific details.
Altman instructed Trump’s attorney to strengthen the allegations if the case is refiled.
Capital One declined to comment on the ruling.
Capital One Shares Edge Higher
COF Price Action: At the time of publication, Capital One shares are trading 3.41% higher at $187.65, according to data from Benzinga Pro.
Image via Shutterstock
Recent Comments