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American Express has entered into a $100 million settlement agreement after allegations that American Express/Ameriprise financial advisors pushed their own funds over funds offered by other companies. American Express customers have until May 7, 2007, to decide whether to “opt out” or participate in a $100 million dollar class action settlement. This settlement covers anyone who paid advisory fees to American Express/Ameriprise between March 10, 1999, and April 1, 2006, or purchased certain proprietary funds offered by American Express/Ameriprise during the same period of time.

Parker Waichman Alonso LLP believes the terms of the class action settlement are insufficient. If you purchased an American Express or Ameriprise mutual fund between March 10, 1999 and April 1, 2006 contact Parker Waichman Alonso LLP for a free evaluation. It may be in your interest to file an individual case against the defendants than participating in the class action. Customers that participate in the class action could recover as little as $20-$50 each.

To learn how to opt-out of the class action settlement contact Parker Waichman Alonso LLP by submitting a submission form on the right of this page or by calling 1-800-LAW-INFO (1-800-529-4636).