Appeals Court Reinstates AmEx Securities Suit

Law360, New York (November 10, 2006, 12:00 AM EST) -- American Express Co. is back in court over alleged violations of securities laws; but this time it’s nothing new. A circuit judge has reinstated a 2003 suit that alleged the company profited from illegal short swing trades by selling InfoSpace Inc. stock it held.

AmEx announced the reinstatement of the lawsuit in documents filed with the U.S. Securities and Exchange Commission Thursday.

The original case was filed by stockholder Thomas Dreiling on behalf of InfoSpace, a Bellevue, Wash.-based mobile information provider, in November 2003.

According to...
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