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 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.
American Airlines' focus on ESG in 401(k) plan is illegal, US judge rules
A federal judge in Texas on Friday said American Airlines violated federal law by basing investment decisions for its employee retirement plan on environmental, social and other non-financial factors.
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.
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 ...
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 ...
InvestmentNews2d
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 ...
Pensions&Investments2d
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 ...
The American Spectator2d
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 ...
Benefits Pro3d
American Airlines breached fiduciary duty by prioritizing ESG goals, in 401(k) lawsuit
The former employee alleged that 37% of his retirement savings were invested in BlackRock's Target Date 2045 fund, which uses ESG considerations. Spence called American Airlines’ actions ...
Florida Politics2d
American Airlines court ruling raises concerns over broader unintended consequences
The suit, initially filed in June 2023, alleged that American Airlines violated its fiduciary duties under the Employee ...