AmEx Could See $500M More In Legal Costs

Law360, New York (February 28, 2011, 6:02 PM EST) -- American Express Co. could face up to $500 million more in legal liabilities than previously estimated in the wake of an antitrust suit from federal authorities, according to an annual report filed with federal regulators Monday.

The company, the world's largest card issuer by purchase volume, did not disclose its full legal liability in the report, filed with the U.S. Securities and Exchange Commission. It gave a range for the additional legal costs of zero to $500 million, but noted it was possible that additional losses...
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