Amex Shareholder Class Action Over Alleged Misrepresentations Dismissed

(October 13, 2017, 11:38 AM EDT) -- NEW YORK — A pension fund failed to show that a credit card company and certain of its executive officers violated federal securities laws by failing to disclose known trends and uncertainties and other adverse facts concerning its co-brand agreement negotiations with an international retailer, a federal judge in New York ruled Sept. 30 in dismissing the pension fund’s amended class complaint for failure to plead any actionable misrepresentations or scienter (Plumbers and Steamfitters Local 137 Pension Fund v. American Express Co., et al., No. 15-5999, S.D. N.Y., 2017 U.S. Dist. LEXIS 162399)....