San Francisco sues American Express for billions in penalties, restitution for merchants Statewide consumer protection case in California follows federal court decision that the global charge card giant illegally restrained trade, flouted U.S. antitrust laws

SAN FRANCISCO, Nov. 19, 2015 /PRNewswire-USNewswire/ -- San Francisco City Attorney Dennis Herrera is suing American Express Company (NYSE: AXP) in a statewide consumer protection action over anti-competitive and illegal merchant restraints alleged to be "responsible for billions of dollars in excessive and improper costs" borne directly by retailers and, indirectly, by all California consumers. Herrera's civil suit follows a federal court decision from earlier this year, in which the U.S....