(The.Comedian) Five months after American Express and Costco announced they would go their separate ways and end their exclusive relationship – essentially allowing members of the warehouse club to use other cards – shareholders for the credit card company have filed a lawsuit claiming it blindsided investors with the loss of the contract. The lawsuit [PDF], filed by Plumbers and Steamfitters Local 137 Pension Fund, accuses American Express of failing to reveal how significant the 16-year long contract with Costco had become to the business. According to the lawsuit, which seeks class-action status on behalf of all shareholders who bought stock between Oct.
Investors Sue American Express After Loss Of Costco Agreement
Ashlee Kieler, The Consumerist
Fri, 07/31/2015 - 11:53am
Topics: the.comedian pdf plumbers steamfitters local pension fund oct costco regarding march defendants because amex u.s card services in december february american express costco feb u.s costco amex s investors sue loss agreement lawsuit contract company business financial co-branding shareholders cards exclusive share states material relationship filed announced prospects stock seeks
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