Veterans Seek OK For American Airlines Benefits Settlement
Law360, San Francisco (January 10, 2017, 4:31 PM EST) -- A class of American Airlines pilots urged a Massachusetts federal judge to approve a deal Monday that offers approximately $6.2 million in cash and stock to end claims that the airline failed to fully contribute to the pilots' pensions when they were on military leave, in violation of the Uniformed Services Employment and Reemployment Rights Act.
The amount of the proposed deal, which consists of $500,000 in cash and more than 136,000 shares of American Airlines Group Inc. stock, “far exceeds” the highest estimate of class members’ losses, and therefore it should be approved to avoid further costly litigation, the pilots...
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