Federal Jury Slaps American Express with $12.5 Million Verdict for Unfair Practices Amid Antitrust Claims Dismissal
NEW YORK — A federal jury has ordered American Express Co. to pay $12.5 million in damages after finding the company engaged in unfair practices under Illinois law, although it was cleared of various antitrust allegations that had also been brought against it. The verdict, delivered on Thursday in the U.S. District Court for the Eastern District of New York, stemmed from a protracted legal battle initiated by state consumers. Those consumers challenged certain nondiscrimination clauses present in American Express’s agreements with merchants who accept its credit cards. These provisions specifically prohibit steering practices, which … Read more