AmEx Can't Compel Arbitration In Price-Fixing Case

Law360, New York (October 22, 2008, 12:00 AM EDT) -- A federal appeals court on Tuesday denied American Express Co.'s bid to force holders of competing credit cards into arbitration as a way of defending itself against allegations that it conspired with other card companies to fix foreign currency transaction fees.

The decision, filed in the U.S. Court of Appeals for the Second Circuit, upheld a district court's September 2005 ruling and paved the way for further proceedings in a putative class action against AmEx as part of a multidistrict case.

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