Frequently Asked Questions
Ross, et al. v. American Express Co., et al., No. 04-5723, MDL No. 1409 (S.D.N.Y.) (Pauley, J.)

To view FAQs from the related matter, In re Currency Conversion Fee Antitrust Litigation (MDL 1409), please click here.

Spanish Version: Para leer las preguntas con frecuencia hechas en español, chascar aquí.

The Lawsuit and Settlement: On April 30, 2012, the Court granted final approval of the parties' agreement to settle the foreign transaction fee claims in the lawsuit, Ross, et al. v. American Express Co., et al. ("Ross v. American Express"). Three appeals were filed challenging the Court's approval of the settlement. Plaintiffs opposed these appeals before the United States Court of Appeals for the Second Circuit. The appeals were ultimately dismissed and the process of distributing the settlement funds may now begin.

On April 16, 2013, the Court approved the distribution of checks in connection with the settlements in this matter. This distribution will be coordinated with a second distribution of residual funds remaining in connection with the settlement of the related matter In re Currency Conversion Fee Antitrust Litig. (The initial distribution of checks in connection with the Currency Conversion Fee settlement was completed by mid-January 2012.)

This website supplies information about the litigation and the settlement, and provides links to relevant documents for members of the FX Damages Class and others interested in the settlement.

Ross v. American Express is about the prices that cardholders of certain Visa, MasterCard and Diners Club credit and charge cards were charged to make transactions denominated in a foreign currency or with a foreign merchant, including purchases, cash advances, cash withdrawals, and internet transactions. Ross v. American Express does not involve American Express credit or charge cards; only certain Visa, MasterCard and/or Diners Club credit and/or charge cards are covered.

Plaintiffs in this lawsuit claim that American Express conspired in violation of the antitrust laws with certain banks that issue Visa, MasterCard and/or Diners Club credit and charge cards to set and conceal fees on foreign transactions. The banks are Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA and Washington Mutual/Providian. Plaintiffs seek money damages and restitution for the FX Damages Class. American Express denies the Plaintiffs' claims and says it has done nothing wrong, improper, or unlawful.

Plaintiffs also claim that American Express conspired with the banks listed above to add arbitration clauses in connection with credit or charge cards issued by those banks. The settlement does not concern the arbitration clause claim, which seeks injunctive relief only. A separate class has been certified with respect to that arbitration claim, and your decision to remain a member of the FX Damages Class or to opt-out will not affect any rights you may have concerning the arbitration clause claim.

Status: On April 30, 2012, the Court entered an Order and Final Judgment approving the settlement. The Court also entered a final judgment approving the Allocation Plan concerning the distribution of the net proceeds of the settlement funds to authorized claimants. Three appeals were filed challenging the Court’s approval of the settlement. Plaintiffs defended these appeals before the United States Court of Appeals for the Second Circuit. The appeals were ultimately dismissed and the process of distributing the settlement funds may now begin.

As noted above, on April 16, 2013, the Court approved the distribution of checks in connection with the settlements in this matter.

The Settlement Administrator will be issuing distribution checks to Authorized Claimants during the period from approximately mid-May to mid-July, 2013. (Please see the Frequently Asked Questions for information on the distribution checks.) You should note that distribution checks will be void after 90 days from the date on the check. If you receive a settlement check, please promptly deposit it before the check’s 90-day expiration date.

Because of the large volume of checks (more than 7.4 million), the checks will be mailed over a period of approximately two months, beginning in mid-May, 2013. If you submitted a valid, timely claim and you have not received a check by the end of July 2013, please contact the Settlement Administrator or Co-Lead Class Counsel. To assist such inquiries, claimants should provide as much of the following information as possible: name, current address (and the address used when the claim was submitted, if different), current contact information (e.g., telephone or email), Claim number or Refund ID number, and the type of claim submitted.

You may access copies of these judgments, as well as the Settlement Agreement, the Allocation Plan, documents related to the appeals of the settlement and other important documents concerning the lawsuit, from the "Documents" webpage (click here). This website contains important information concerning the settlement and membership in the FX Damages Class. Please check this website for important updates.

Frequently Asked Questions ("FAQs"): This webpage contains information concerning the lawsuit and the settlement in the form of responses to frequently asked questions (or "FAQs"). These FAQs will be continuously updated as the settlement progresses from the approval phase through distribution of the net settlement proceeds to members of the FX Damages Class.

• What is this lawsuit about?
• What is the Plaintiffs' position in the lawsuit?
• Who is the Defendant?
• What is the Defendant's position in the lawsuit?
• Who is affected by this settlement?
• What is the settlement?
• Do I need to hire a lawyer?
• I received a notice; am I being sued?
• Am I a member of the FX Damages Class?
• How does the settlement affect my rights?
• What are my options?

• What if my address or other information changes?
• When will I receive my settlement claim payment from the Ross v. American Express settlement?
• How will my Ross v. American Express settlement claim payment be paid?

• How will the attorneys be paid?
• Will the class representatives be paid?

• How can I get more information?

• What is this lawsuit about?(top)
  In this case (Ross, et al. v. American Express Co., et al., No. 04-5732 (S.D.N.Y.) (WHP) ("Ross v. American Express")), Plaintiffs challenge the prices that cardholders of certain Visa, MasterCard and Diners Club credit and charge cards were charged to make transactions denominated in a foreign currency or with a foreign merchant, including purchases, cash advances, cash withdrawals, and internet transactions. Ross v. American Express does not involve American Express credit or charge cards; only certain Visa, MasterCard and/or Diners Club credit and/or charge cards are covered.
  
  Plaintiffs in this lawsuit claim that American Express conspired in violation of the antitrust laws with certain banks that issue Visa, MasterCard and/or Diners Club credit and charge cards to set and conceal fees on foreign transactions. The banks are Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA and Washington Mutual/Providian. Plaintiffs seek money damages and restitution for the FX Damages Class. American Express denies the Plaintiffs' claims and says it has done nothing wrong, improper, or unlawful.
  
  Plaintiffs also claim that American Express conspired with the banks listed above to add arbitration clauses in connection with credit or charge cards issued by those banks. The settlement does not concern the arbitration clause claim, which seeks injunctive relief only. A separate class has been certified with respect to that arbitration claim, and your decision to remain a member of the FX Damages Class or to opt-out, will not affect any rights you may have concerning the arbitration clause claim.
  
  Also, by way of additional background, this lawsuit is one of three related actions in MDL 1409. The first MDL 1409 lawsuit, In re Currency Conversion Fee Antitrust Litigation ("CCF I"), also concerned foreign transaction fees. CCF I has settled and the Court has authorized the distribution of the settlement funds in CCF I to valid, timely filed claims. (Please click here for a copy of the Order directing distribution of the CCF I settlement fund.) For information about the third MDL 1409 lawsuit, Ross, et al. v. Bank of America, N.A. (USA), et al., No. 05-7116, (S.D.N.Y.) (WHP), please click here.
  
  This website is intended to provide information responsive to most questions. Details are provided below regarding who you should contact if you have questions about this case which are not answered here. Please do not contact the Court, American Express, or your bank with questions about this case.
• What is the Plaintiffs' position in the lawsuit?(top)
  Plaintiffs in this lawsuit claim that American Express conspired in violation of the antitrust laws with certain banks that issue Visa, MasterCard and/or Diners Club credit and charge cards to set and conceal fees on foreign transactions. For more detailed information about the Plaintiffs' claims, please review the First Amended Class Action Complaint and the Court's Order Denying Defendants' Motion for Summary Judgment, dated March 29, 2011.
  
  The banks are Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA and Washington Mutual/Providian.
  
  Plaintiffs also claim that American Express conspired with the banks listed above to add arbitration clauses in connection with credit or charge cards issued by those banks.
  
  Plaintiffs' claims do not involve American Express credit or charge cards; only certain Visa, MasterCard and/or Diners Club credit and/or charge cards are covered.
  
  The parties have agreed to settle the foreign transaction fee claim against American Express; the lawsuit will continue with respect to the arbitration clause claim.
• Who is the Defendant?(top)
  The defendant in Ross v. American Express lawsuit is American Express. The specific corporate entities that are named as defendants in the First Amended Class Action Complaint are: American Express Company, American Express Travel Related Services, Inc., and American Express Centurion Bank.
  
  Plaintiffs claim that American Express conspired with the following banks: Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA and Washington Mutual/Providian. These banks issue Visa-, MasterCard- and/or Diners Club-branded credit and charge cards.
• What is the Defendant's position in the lawsuit?(top)
  American Express denies the Plaintiffs' claims, believes that they are unsupported by the facts and the applicable law and states that it has done nothing wrong, improper or unlawful. American Express has chosen to settle the foreign transaction claims in this case only to avoid the inconvenience, expense and uncertainty of litigation.
• Who is affected by this settlement?(top)
  On January  22, 2010, the Court entered an Order and Memorandum certifying an FX Damages Class in Ross v. American Express. Only members of the FX Damages Class may participate in the proposed Ross v. American Express settlement.
  
  You are a member of the FX Damages Class if:

  • You used a Visa, MasterCard and/or a Diners Club credit or charge card between July 22, 2000 and November 8, 2006, and were assessed a fee or surcharge for using your card to purchase goods and/or services priced in foreign currencies or in foreign countries, and
  • The card you used was issued by one of the following banks: Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA or Washington Mutual/Providian, and
  • You submitted a claim as part of the settlement in In re Currency Conversion Fee Antitrust Litig. ("CCF I"), and your claim was not rejected by the Settlement Administrator.

  If the claim you submitted in CCF I was rejected because you missed the claim submission deadline in that settlement, you may still be a member of the FX Damages Class in the Ross v. American Express lawsuit, provided you submitted your CCF I claim no later than October 31, 2011 and the Settlement Administrator determines that the claim is valid.
• What is the settlement?(top)
  American Express has created a settlement fund of $49,500,000 to pay valid claims, attorneys' fees and expenses, any service awards to class representatives ordered by the Court, and the costs of administering the settlement and notice. For more detailed information about the settlement, please review the Settlement Agreement.
• Do I need to hire a lawyer?(top)
  The Court has appointed the lawyers listed below to represent class members. You do not have to hire your own lawyer. But you can if you want to, at your own cost.

  Merrill G. Davidoff
  Charles P. Goodwin
  David A. Langer
  Berger & Montague, P.C.
  1622 Locust Street
  Philadelphia, PA 19103
• I received a notice; am I being sued?(top)
  No.
• Am I a member of the FX Damages Class?(top)
  You are a member of the FX Damages Class if:

  • You used a Visa, MasterCard and/or a Diners Club credit or charge card between July 22, 2000 and November 8, 2006, and were assessed a fee or surcharge for using your card to purchase goods and/or services priced in foreign currencies or in foreign countries, and
  • The card you used was issued by one of the following banks: Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA or Washington Mutual/Providian, and
  • You submitted a claim as part of the settlement in In re Currency Conversion Fee Antitrust Litig. ("CCF I"), and your claim was not rejected by the Settlement Administrator.

  If the claim you submitted in CCF I was rejected because you missed the claim submission deadline in that settlement, you may still be a member of the FX Damages Class in the Ross v. American Express lawsuit, provided you submitted your CCF I claim no later than October 31, 2011 and the Settlement Administrator determines that the claim is valid.
  
  Only members of the FX Damages Class may participate in the settlement in Ross v. American Express.
• How does the settlement affect my rights?(top)
  If you are a member of the FX Damages Class and did not opt-out, you are bound by the settlement and have released any and all rights, duties, obligations, claims (including those that the Representative Plaintiffs or any FX Damages Class Member does not know or suspect to exist in his, her or its favor at the time of the release which, if known by him, her or it, might have affected his, her or its settlement with and release of the Released Persons, or might have affected his, her or its decision not to object to this Settlement), actions, causes of action or liabilities, whether arising under local, state, or federal law, whether by statute, contract, common law or equity, whether known or unknown, suspected or unsuspected, asserted or unasserted, foreseen or unforeseen, actual or contingent, liquidated or unliquidated, as of the date of Preliminary Approval: (1) that are, were, or could have arisen out of or been related in any way to any Credit Card Foreign Transaction Fees or Base Exchange Amounts, or the disclosure or pricing thereof, up to the date of Preliminary Approval, including, without limitation, any and all claims that are based in whole or in part on any act, agreement, conduct or omission up to the date of Preliminary Approval that has or had, and/or allegedly has or had, the purpose or effect of fixing, inflating, concealing, or inadequately disclosing the nature, pricing, or any other aspect of any Credit Card Foreign Transaction (including, but not limited to, Credit Card Foreign Transaction Fees, Base Exchange Amounts, and/or any component of either); or (2) that arise out of or are related in any way to any or all of the acts, omissions, facts, matters, transactions, or occurrences that were directly or indirectly alleged, asserted, described, set forth or referred to in Count I of this Matter including, but not limited to, claims for alleged violations of Section 1 of the Sherman Antitrust Act, state consumer credit or consumer protection statutes, common law prohibiting unfair or deceptive trade practices, breach of contract, fraud, and/or misrepresentation and equity prohibiting unjust enrichment or requiring restitution or disgorgement. (Please see the Stipulation and Agreement of Settlement for definitions of the capitalized terms above.)
  
  FX Damages Class members do not release Count II of the First Amended Class Action Complaint in this Matter, which alleges that Defendants violated Sherman Antitrust Act § 1 by participating in a conspiracy with certain banks that issue Visa-, MasterCard- and Diners Club-branded credit cards to impose arbitration clauses in connection with credit cards issued by those banks, and through which Plaintiffs will seek injunctive relief only. Expressly exempt from this release are the claims brought in the matter pending bearing the caption Ross, et al. v. Bank of America, N.A. (USA), et al., No. 05-CV-7116 (S.D.N.Y.) (WHP), in which Plaintiffs allege that the defendants violated Sherman Antitrust Act § 1 by participating in a conspiracy with certain banks that issue Visa-, MasterCard- and Diners Club-branded credit cards to impose arbitration clauses in connection with credit cards issued by those banks, and through which Plaintiffs will seek injunctive relief only. (Please click here for more information about this lawsuit).
  
  For more information about the facts that were asserted in the Ross v. American Express litigation, please see the First Amended Class Action Complaint and other litigation materials available on this website or by mailing your request to the Settlement Administrator at P.O. Box 570, Philadelphia, PA 19105-0570.
• What are my options?(top)
  Members of the FX Damages Class were provided an opportunity to request to be excluded from membership in the FX Damages Class, or, if they remained a member of the FX Damages Class, to submit an objection to the settlement.
  
  The deadline to request exclusion from the FX Damages Class was March 2, 2012. The deadline to submit an objection to the settlement was April 6, 2012.

• What if my address or other information changes?(top)
  If your address or other information changes, please mail a letter to the Settlement Administrator explaining the information that needs to be changed. The mailing address is:

  Settlement Administrator
  P.O. Box 570
  Philadelphia, PA 19105-0507
• When will I receive my settlement claim payment from the Ross v. American Express settlement?(top)
  On April 30, 2012, the Court granted final approval of the parties’ agreement to settle the foreign transaction fee claims in the lawsuit Ross, et al. v. American Express Co., et al. ("Ross v. American Express"). Three appeals were filed challenging the Court’s approval of the settlement. Plaintiffs opposed these appeals before the United States Court of Appeals for the Second Circuit. The appeals were ultimately dismissed and the process of distributing the settlement funds may now begin.
  
  On April 16, 2013, the Court approved the distribution of checks in connection with the settlements in this matter. This distribution will be coordinated with a second distribution of residual funds remaining in connection with the settlement of the related matter In re Currency Conversion Fee Antitrust Litig. (The initial distribution of checks in connection with the Currency Conversion Fee settlement was completed by mid-January 2012.)Settlement claim payments will be distributed pursuant to the Court-approved Allocation Plan (click here to obtain a copy of the plan).
  
  Updated information concerning any distribution of settlement claim payments, including the timing and manner of the distribution, will be posted on this website.
  
  For information concerning refunds in the In re Currency Conversion Fee Antitrust Litigation ("CCF I") settlement, please click here.
• How will my Ross v. American Express settlement claim payment be paid?(top)
  Eligible settlement claim payments will be paid by check to the primary cardholder on the account.
• When will the Court consider approving the Ross v. American Express settlement?(top)
  The Court held a fairness hearing concerning the settlement on April 27, 2012, at the United States District Court for the Southern District of New York, Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, Courtroom 11D, New York, NY 10007.
  
  On April 30, 2012, the Court entered a final judgment approving the settlement and a final judgment approving the Allocation Plan. Three appeals were filed challenging the Court’s approval of the settlement. Plaintiffs opposed these appeals before the United States Court of Appeals for the Second Circuit, which have now been dismissed and the process of distributing the settlement funds may now begin.
  
  On April 16, 2013, the Court approved the distribution of checks in connection with the settlements in this matter. This distribution will be coordinated with a second distribution of residual funds remaining in connection with the settlement of the related matter In re Currency Conversion Fee Antitrust Litig. (The initial distribution of checks in connection with the Currency Conversion Fee settlement was completed by mid-January 2012.)
  
  click here to access the website's "Documents" page to obtain copies of these final judgments, as well as the Settlement Agreement, the Allocation Plan, documents related to the appeals of the settlement and other important documents concerning the settlement and the litigation. The Court has not yet entered a final judgment concerning class counsel's requests for attorneys' fees and expenses, or for awards for the class representatives.
  
  Please check this website (or call 1-888-567-5450) for updates concerning the settlement.

• How will the attorneys be paid?(top)
  On August 22, 2012, the Court granted attorneys’ fees in the amount of $9,033,750 (or 18.25% of the Ross v. American Express settlement fund). The Court also awarded litigation expenses in the amount of $417,461.
• Will the class representatives be paid?(top)
  On August 22, 2012, the Court granted service awards in the amount $7,500 to the two class representatives in recognition of their efforts on behalf of the FX Damages Class.

• How can I get more information?(top)
  To see the Settlement Agreement, Court orders, and other documents about this lawsuit, click here. Or, you may mail your request to the Settlement Administrator at P.O. Box 570, Philadelphia, PA 19105-0570.
  
  You can also go to the Courthouse during regular business hours to see court documents. The Courthouse address is: Clerk of the Court, United States Courthouse, 500 Pearl Street, New York, New York 10007-1581.
  
  Or mail your questions to the following attorneys for the class:

  Merrill G. Davidoff
  Charles P. Goodwin
  David A. Langer
  Berger & Montague, P.C.
  1622 Locust Street
  Philadelphia, PA 19103

Contact us for more information about this page.
Current status last updated May 9, 2013

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