American Airlines, ESG

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 environmental, social, and corporate governance goals, a Texas federal judge ruled Friday in the biggest victory yet for opponents of the strategy.
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.
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’ use of ‘ESG activist’ BlackRock failed workers, US judge says
Case over pension scheme management highlights rising risks of legal challenges over environmentally-focused policies
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.
Federal judge rules against American Airlines in signature 401(k) ESG lawsuit
This was the first challenge to a DC plan sponsor’s use of environmental, social and governance principles, and the judge’s ruling adds to the efforts by certain politicians and legislatures to claim ESG principles adversely affect retirement plan investments.
Court Rules American Airlines Breached Fiduciary Duty in ESG Case
A federal district court in Texas found that American Airlines prioritized ESG investment goals ahead of employees’ financial interests, violating its fiduciary duties under ERISA.
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
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.
JD Supra19m
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, ...
InvestmentNews1d
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 ...
The American Spectator1d
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 ...