NEW YORK, NY / ACCESSWIRE / January 23, 2021 / Pomerantz LLP is investigating claims on behalf of investors of American Express Company ("American Express" or the "Company") (NYSE:AXP). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether American Express and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On January 7, 2021, the Wall Street Journal published an article entitled "Federal Investigators Probing AmEx Card Sales Practices." Citing "people familiar with the matter," the Wall Street Journal article reported that "[t]he inspectors general offices of the Treasury Department, Federal Deposit Insurance Corp., and Federal Reserve are investigating whether AmEx used aggressive and misleading sales tactics to sell cards to business owners and whether customers were harmed" and "are also examining whether specific employees contributed to the alleged behavior and if higher-level employees supported it." The article further reported that "[t]he Office of the Comptroller of the Currency is also investigating business-card sales practices at AmEx."
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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.
SOURCE: Pomerantz LLP