Arbitration Update - Tuesday, December 30, 2008 13:43 - 0 Comments

Arbitration Denied In Credit Card Antitrust Case

Plaintiffs who claim a conspiracy by American Express to cover up an antitrust plot with other major credit card companies on foreign currency transactions have won a victory in their lawsuit. A federal appeals court said they cannot be compelled to arbitrate. The U.S. Court of Appeals for the Second Circuit ruled the plaintiffs could not be forced into arbitration because American Express was not a signatory to the MasterCard, Visa and Diners Club credit card agreements that included the arbitration clauses.

Source: New York Law Journal