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COST - Costco Wholesale News Story

$425.28 3.9  0.9%

Last Trade - 29/07/21

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £134.30bn
Enterprise Value £132.11bn
Revenue £134.29bn
Position in Universe 60th / 7008

American Express sued for misleading investors about Costco business

Thu 30th July, 2015 10:31pm
NEW YORK, July 30 (Reuters) - American Express Co  AXP.N  
was sued on Thursday by a shareholder accusing the credit card 
company of misleading investors ahead of the announcement in 
February that it had lost its co-branding agreement with Costco 
Wholesale Corp COST.O . 
    The lawsuit, filed in Manhattan federal court, sought class 
action status on behalf American Express shareholders who 
suffered losses in connection with the February announcement. 
    The lawsuit was filed by a shareholder, Plumbers and 
Steamfitters Local 137 Pension Fund. 
 
 (Reporting by Nate Raymond in New York) 
 ((Nate.Raymond@thomsonreuters.com; Twitter @nateraymond; 
+1-646-223-6752; Reuters Messaging: 
nate.raymond.thomsonreuters.com@reuters.net)) 
 
Keywords: AMERICAN EXPRESS LAWSUIT/
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