American Airlines Says 401(k) Management Suit Can't Fly

By Danielle Nichole Smith (July 6, 2020, 2:38 PM EDT) -- American Airlines is urging a Texas federal judge to toss an ERISA suit claiming the airline wrongly let workers put their retirement savings in an investment option offered by a credit union, telling the court that the lead plaintiffs' own investment decisions undermined their case.

In its July 3 summary judgment motion, American Airlines Inc. argued that Salvadora Ortiz and Thomas Scott lacked standing for their claim in the Employee Retirement Income Security Act suit that the airline unwisely chose and kept the American Airlines Federal Credit Union option in its 401(k) plan.

Ortiz and Scott couldn't show that they would...

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