"A federal judge [U.S. District Judge Nicholas Garaufis] rejected a proposed $79 million class-action settlement between American Express Co. and a group of merchants, citing a recent discovery that two opposing lawyers in the case (Gary Friedman and Keila Ravelo] had exchanged confidential documents." -Robin Sidel, The Wall Street Journal, August 4, 2015. Here is the article.
All that legal work seems to have been for nothing. U.S. District Judge Nicholas Garaufis wrote that the conduct of the two "fatally tainted the settlement process."
How much of a setback will this be to Amex? It is in the process of rebranding. Two aspects of that is expanding its market beyond the wealthy to Everywoman. Another part is migrating into digital forms of payment.