Judge throws out American Express class action lawsuit

07/21/2010 | Bloomberg Businessweek

American Express persuaded a U.S. district judge in New York on Monday to dismiss a class action suit alleging that the company misled investors about its underwriting guidelines and delinquency payments. The judge said the company was seeking to expand its credit card operations during a period of financial upheaval, calling the lawsuit "a classic example of fraud by hindsight."

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