example claim:
misled investors by falsely representing American Express’s exposure to the riskiest credit card holders
Several law offices use direct mail.
A case requires progress, a sufficient number of signatures and then funding for several years in court. As of today, no visible progress.
The most famous class-action-vs-banking case reacts to the Bank of America siezing the social security payments from retirees in 1998. It was a difficult to understand injustice involving small dollar amounts to a small number of people, but appeals continue across two centuries.
Today we have Madoff-size injustices to a vast numbers of voters. The first law office with enough signatures against any bank will win big in the news: positive for consumers, generous rewards, black humor, David vs. Goliath, villians get punished. It will have everything editors crave in a headline. If it is Amex, it will instantly re-brand the card, removing the image of "separate and smarter than the others".
For reference, the WSJ AXP page already includes these, and more can be expected:
Mar. 27 Pittsburgh Law Office of Alfred G. Yates Jr., PC Commences a Class Action Lawsuit On Behalf of Shareholders of American Express Company (AXP)
Feb. 27 Brower Piven Encourages Investors Who Have Losses in Excess of $500,000 From Investment in American Express Company to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the April 21, 2009 Lead Plaintiff Deadline
Feb. 20 Glancy Binkow & Goldberg LLP, Representing Investors Who Purchased American Express Company, Announces Class Action Lawsuit and Seeks to Recover Losses -- AXP
No comments:
Post a Comment