American Airlines Breaches Fiduciary Duty of Loyalty with BlackRock ESG Funds in 401(k) Plans
Whether, and the extent to which, a plan fiduciary can consider nonpecuniary environmental, social and governance (“ESG”) objectives in selecting
American Airlines' focus on ESG in retirement plan is illegal, US judge rules
Berkshire coal plants emit more nitrogen oxide gases than any other coal-fired fleet in the country. Despite big investments in renewable energy, the company has resisted efforts by regulators to make coal plants cleaner.
Judge Rules American Airlines Violated Retirement-Plan Duties by Encouraging ESG Investing
A federal judge ruled Friday that American Airlines violated its legal responsibilities in managing employees’ retirement assets by encouraging environmentally and socially responsible investing in its 401(k) plan.
ERISA attorneys fear 'chilling effect' of American Airlines 401(k) ESG ruling
Defined contribution plans using environmental, social and governance principles have suffered a setback and could face more litigation risk, following a Texas federal judge’s Jan. 10 ruling against American Airlines and its 401 (k) plan fiduciaries, some ERISA attorneys warn.
American Airlines broke the law by focusing on ESG in 401(k) plans: judge
The ruling by US District Judge Reed O’Connor appeared to be the first of its kind amid growing backlash by conservatives to an uptick in socially-conscious investing.
Judge finds American Airlines liable in ESG investing case
The judge’s ruling in the not-yet-completed case is likely to inject fresh fuel into the roiling political debate around environmental, social and governance goals.
American Airlines ESG investing strategy violated federal law, judge rules
A federal judge in one of the country’s most conservative district courts ruled Friday that American Airlines unlawfully incorporated environmental and sustainable governance (ESG) factors into its employee retirement plan.
Texas Judge Rules American Airlines Breached Duty in Retirement Plan Investments
A federal judge in Texas has ruled that American Airlines violated federal law by prioritizing environmental, social, and governance (ESG) factors over financial interests in its 401(k) retirement plan.
ESG Opponents Get Novel Win in American Airlines 401(k) Suit
American Airlines Inc. violated federal law by filling its 401(k) plan with funds from investment companies that pursue ...
Could ESG Funds be Removed from Your 401(k) Plan?
American Airlines case did not involve ESG funds or ESG products. Rather, the lawsuit took aim at the airline for using an ...
Federal judge rules against American Airlines in 401(k) ESG lawsuit
A judge ruled the airline violated its fiduciary duty to loyalty through its retirement plan management, though experts say ...
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401(k) ESG lawsuit order cites 'cartel-like behavior,' could prompt more litigation
Plaintiffs successfully sued American Airlines over an asset manager's ESG considerations in the proxy-voting process, and ...
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Practical Takeaways from Spence v. American Airlines, Inc. for ERISA Plan Fiduciaries
Judge Reed O’Connor of the Northern District of Texas issued a much-anticipated ruling in Spence v. American Airlines, ...
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BlackRock and American Airlines: Is Larry Fink the New Sam Bankman-Fried?
A federal case out of Texas decided on Friday, could be the first step in a long and painful march for institutional capital ...
Texas Judge in Boeing, ESG Cases Known for High-Profile Docket
The Texas federal judge who ruled against using environmental, social, and governance factors in American Airlines Group Inc. employee retirement accounts is no stranger to hot-button political issues ...
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Black Retired Cop Sues American Airlines After Crew Allegedly Accused Him of Trafficking His White Wife While They Were Flying to Their Honeymoon
Black retired police officer Anthony Williams and his white wife, Katsiaryna Shasholka, sue American Airlines for racial ...