NEW YORK, Oct. 15, 2018 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of American Express Company (“American Express” or the “Company”) (NYSE: AXP). Investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether American Express and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On September 5, 2018, shortly before market close, media outlets reported that the Federal Bureau of Investigation (“FBI”) is probing pricing practices within American Express’s foreign-exchange unit. The FBI’s investigation reportedly focuses on whether the Company’s foreign-exchange international payments department misrepresented pricing to clients.
Following this news, American Express’s stock price fell $1.61 per share, or 1.5%, over the following two trading days to close at $105.40 per share on September 6, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby