Heimann v. American Express Co.

The plaintiffs, as shareholders of the American Express Co. Amexco ”), a New York corporation, on behalf of themselves and all other shareholders of Amexco similarly situated, have brought this action against Amexco and its directors to enjoin the consummation of settlement plans with claimants who have asserted claims arising out of a field warehousing business conducted by American Express Warehousing Ltd. (“ Limited ”) and its predecessor, American Express Field Warehousing Corp. (“ Field ”), at times when both were wholly owned subsidiaries of Amexco. The defendants have joined in an…