American Airlines Pilot Pension Settlement Gets Final OK

Law360, New York (February 15, 2017, 7:27 PM EST) -- A Massachusetts federal judge on Wednesday gave the final green light to a cash and stock deal worth nearly $6.5 million that resolves American Airlines pilots’ class action claims that the airline’s pension plan didn’t contribute enough to their retirement plans while they were serving in the military.

U.S. District Judge Indira Talwani granted final approval to the settlement, which consists of $500,000 in cash and nearly 137,000 shares of American Airlines Group Inc. stock currently worth about $6.4 million and will benefit more than 1,200 American Airlines pilots, according to a news release from class counsel and the class representative....

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