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American Express wins lawsuit dismissal over Costco contract

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A federal judge dismissed a lawsuit alleging American Express defrauded shareholders.

The judge rejected claims that American Express downplayed the loss in 2015 of a co-branding relationship with Costco Wholesale Corp.

American Express' market value fell by 48 billion in the two days after it disclosed the loss of the Costco contract.

Read more from Reuters.

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