AmEx Unit Gets Damages Claim Nixed In Benefits Suit

Law360, New York (August 11, 2010, 1:45 PM EDT) -- A unit of American Express Co. has won its renewed bid to toss an exemplary damages claim in a class action over an employee defined benefit plan funded by insurance contracts that was deemed an illegal tax shelter, leaving only an unjust enrichment claim intact.

Judge Jane J. Boyle of the U.S. District Court for the Northern District of Texas on Tuesday granted American Express Tax and Business Services Inc.'s motion for reconsideration of a May 11 order that allowed the exemplary damages claim to proceed...
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