Thieler Law Corp advises investors with losses exceeding $100,000 of the September 28, 2015 lead plaintiff deadline in a class action lawsuit filed against American Express Company (NYSE:AXP) (“Am Ex” or “the Company”). The suit is pending in the U.S. District Court for the Southern District of New York and investors, who purchased Am Ex securities between October 16, 2014 and February 11, 2015, have until September 28, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Am Ex securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 866-6157 or emailing mail@thielerlaw.com .  No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that American Express Company’s status of its negotiations with U.S. Costco to renew its co-branding agreement, which was set to expire on March 31, 2016, and the financial impact of that agreement on Am Ex's business. 

On February 12, 2015, Am Ex announced its loss the of itsU.S. Costco co-branding relationship and that as a result, that loss would be financially severe.  Am Ex disclosed that the U.S. Costco co-branding agreement generated 8% of the Company's revenues in 2014, that one in ten U.S. Am Ex cards had been issued pursuant to the U.S. Costco co-branding arrangement and that 20% of its outstanding loans had been made pursuant to that agreement.  Further stated in that announcement was that as a result of the loss of the U.S. Costco co-branding agreement, Am Ex stated that the Company's 2015 and 2016 profits would suffer and that the Company would not be able to make any headway on its previous efforts to increase earnings per share until 2017 at the very earliest. 

After the release of this news, the price of Am Ex common stock fell from a close of $85.40 per share on February 11, 2015, to close at $77.53 per share on February 13, 2015, a decline of nearly $8 per share. If you were negatively impacted by your investment in Am Ex securities between October 16, 2014 and February 11, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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