American Airlines Beats Class Bid In 401(k) Management Suit

By Adam Lidgett (July 2, 2020, 5:34 PM EDT) -- Two former American Airlines workers lost their bid to certify a 20,000-member class in their suit alleging their retirement plan was mismanaged, after a Texas federal judge said certification wasn't necessary since they are suing on behalf of the whole plan.

In a short Wednesday order, U.S. District Judge John McBryde shot down plaintiffs Salvadora Ortiz and Thomas Scott's motion for class certification in their Employee Retirement Income Security Act suit that seeks to recover alleged plan losses that the plaintiffs say resulted from the carrier's fiduciary breaches.

The judge said in the order that "the court is satisfied that plaintiffs...

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