Download Ross v Amex Final Approval - Bertino Affidavit Ex C PDF

TitleRoss v Amex Final Approval - Bertino Affidavit Ex C
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Page 1

Authorized by the U.S. District Court for the
Southern District of New York

— Notice of a Pending Class Action Lawsuit and Proposed Settlement —
To: Foreign Transaction Fee Claimants

IMPORTANT: If you submitted a claim concerning foreign transaction fees as part of the settlement in In re Currency Conversion
Fee Antitrust Litig., MDL 1409, you may also be a class member in a second class action called Ross, et al. v.
American Express Co., et al.

This notice contains information about your rights and options in a class action lawsuit.
You are receiving this notice because you submitted a claim in connection with a class action lawsuit titled In re Currency

Conversion Fee Antitrust Litig., MDL 1409 (“CCF I”), and you, therefore, may also be a member of an FX Damages Class certified
by the Court in a second, related action, titled Ross, et al. v. American Express Co., et al. (“Ross v. American Express”).

Both lawsuits concern fees or surcharges imposed by certain banks for the use of a Visa, MasterCard and/or Diners Club
credit or charge card to make a transaction in a foreign currency and/or with a foreign merchant.

CCF I was settled in 2006. This notice is not about the refunds for valid, timely claims submitted in connection with the
CCF I settlement. Instead, this notice provides you with information about membership in the FX Damages Class in Ross v.
American Express and a proposed settlement of the claims of that FX Damages Class.
What is Ross v. American Express about?

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.

On March 29, 2011, the Court denied American Express’s motion for summary judgment on all of the Plaintiffs’ claims in
this lawsuit. Trial on this claim is scheduled to begin in May 2012.

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. This notice 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 described in this notice, or to opt-out as described below, will not affect any rights you may
have concerning the arbitration clause claim.
Why am I receiving this notice?

You are receiving this notice because you may be a member of this second FX Damages Class.
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 CCF I settlement, 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 this second FX Damages Class, provided that your claim was submitted on or before October 31, 2011.
What is the proposed settlement?

American Express has agreed in principle to create a settlement fund of $49,500,000 to pay claims by the members of the
FX Damages Class, attorneys’ fees and expenses to Class Counsel, and the costs of administering the settlement and notice.
Plaintiffs will also ask the Court to award up to $70,000 from the settlement fund to the two class representatives for their
efforts on behalf of the class. The lawyers for the FX Damages Class will request a maximum of 25% of the settlement fund, plus
interest, for attorneys’ fees and they will request a reimbursement of their expenses, not to exceed $1,500,000, and the cost of
notice and settlement administration, to be paid from the fund. The lawsuit will continue with respect to Plaintiffs’ arbitration
claims.

The proposed settlement is still subject to final documentation and approval by the Court. If the proposed settlement
is approved and you do not exclude yourself from the FX Damages Class, you will not be able to sue American Express with
respect to the claims of the FX Damages Class because those claims will be released.

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