Court Revives Securities Class Action Against Amex

Law360, New York (August 8, 2006, 12:00 AM EDT) -- In a blow to American Express Co., an appellate judge has vacated a lower court’s dismissal of a class action accusing the financial giant and some of its officials of securities fraud.

The ruling, handed down Monday by the U.S. Court of Appeals for the Second Circuit, vacated an earlier judgment by the U.S. District Court for the Southern District of New York that dismissed the action, allowing the plaintiffs to amend their claims.

Sanford Dumain of Milberg Weiss Bershad & Schulman LLP, the firm representing...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.