Southwest Slams Investors' Safety Lapse 'Scheme' Claims

Law360 (October 22, 2020, 7:01 PM EDT) -- Southwest Airlines asked a Texas federal judge Wednesday to reject a pair of pension funds' allegations that the airline concealed a record of safety lapses, which came to light after a deadly 2018 engine explosion, through a purported yearslong scheme in its common course of business.

Southwest Airlines Co., CEO Gary C. Kelly, Chief Financial Officer Tammy Romo and Chief Operating Officer Mike Van de Ven filed a motion to dismiss that further disputes certain securities fraud allegations that the Canadian Elevator Industry Pension Trust Fund and the Elevator Constructors Union Local No. 1 Annuity & 401(k) Fund raised in a...

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