Dozens of charities and the University of Miami School of Law have benefited from the settlement of a class-action lawsuit that challenged overcharging American Express cardholders for overseas purchases.
A multi-state case pursued against the credit-card company in the name of Edward LiPuma, an anthropology professor at the University of Miami, ended in 2005 with a $75 million settlement. About $2 million was designated for so-called cy pres contributions, which are granted in class-action litigation when payments become unfeasible or funds remain after the claims process ends.
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