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Spence v. American Airlines, Inc., et al

  1. February 27, 2024

    American Airlines Says ESG Doesn't Break Fiduciary Duty

    American Airlines Inc. has asked a Texas federal judge to ground a proposed class action involving environmental, social and governance policies in retirement plans, saying Monday that the plaintiff has no evidence that the airline breached fiduciary duty or that he suffered a loss.

  2. February 22, 2024

    American Airlines Can't Ground 401(k) Suit Over ESG Funds

    A Texas federal judge has refused to toss a pilot's proposed class action accusing American Airlines of packing its $26 billion retirement plan with investments that focused too heavily on environmental, social and governance factors, like climate change, and too little on financial returns.

  3. January 01, 2024

    The Legal Battles Over ESG And DEI To Watch In 2024

    In 2024, courts across the U.S. are likely to weigh in on some of the most politically charged legal battles over corporate and regulatory efforts to prioritize environmental, social and governance initiatives, with the future of corporate diversity policies, anti-pollution efforts and corporate greenwashing hanging in the balance.

  4. November 21, 2023

    American Airlines 401(k) Participants Seek Cert. Of 100K Class

    Over 100,000 participants in American Airlines' $26 billion 401(k) plan asked a Texas federal judge Tuesday to certify their proposed class action alleging it breached federal benefits law by prioritizing environmental, social and governance factors over financial performance, arguing their losses will be established through common proof.

  5. October 16, 2023

    American Airlines Says Suit Over ESG In 401(k) Falls Short

    American Airlines urged a Texas federal court to dismiss a pilot's proposed class action claiming the airline packed its $26 billion retirement plan with investment options concerned too much with ESG factors, saying the pilot didn't invest in the funds he objected to.

  6. August 28, 2023

    American Airlines Worker Says BlackRock Too Intent On ESG

    A participant in a $26 billion American Airlines 401(k) plan told a Texas federal court the airline violated federal benefits law by offering funds managed by BlackRock, arguing in a proposed class action that the investment management giant puts more emphasis on environmental, social and governance factors than financial performance.

  7. August 04, 2023

    American Airlines Wants 401(k) Suit Over ESG Funds Tossed

    American Airlines on Friday urged a Texas federal judge to toss a proposed class action alleging the airline's 401(k) plan's focus on environmental, social and governance factors cost retirees millions of dollars, saying the leading plaintiff can't show that he invested in any of the challenged funds.

  8. June 30, 2023

    5 ERISA Cases To Watch In 2023's Second Half

    A pending rehearing petition in a massive suit against United Behavioral Health at the Ninth Circuit and battles over ESG in retirement plan investments headline the crop of cases that benefits lawyers will be following in the second half of 2023. Here, Law360 speaks with attorneys about five Employee Retirement Income Security Act cases to keep an eye on.

  9. June 02, 2023

    American Airlines Workers Say ESG Funds Cost 401(k) Plan

    A proposed class of participants in an American Airlines employee 401(k) plan hit the airline with a federal benefits suit Friday, alleging plan funds and investment managers that elevated environmental, social and governance factors cost retirees millions in lost savings through poor performance and excessive fees.

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