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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!