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Breach of Duty American Airlines

Mayer Brown

Northern District of Texas Expands Fiduciary Exposure by Permitting ESG Proxy Voting Theory to Go to Trial

Mayer Brown on

Case Name and Number: Spence v. American Airlines, Inc., et al., No. 4:23-cv-00552 - INTRODUCTION - On June 20, 2024, Judge Reed O’Connor in the Northern District of Texas (the “court”) denied a motion for summary...more

ArentFox Schiff

ESG Update: Two Court Decisions Highlight the Importance of the “G” in “ESG”

ArentFox Schiff on

ESG stands for “environmental, social, and governance.” Though often overlooked, two recent cases — Spence v. American Airlines and Exxon v. Arjuna Capital, LLC — focus on G’s place in the ESG initialism. Here, we break...more

ArentFox Schiff

Airline 401k Decision Illustrates Continued Takeoff of ESG Litigation

ArentFox Schiff on

A Texas federal judge recently permitted an environmental, social, and governance- (ESG) related Employee Retirement Income Security Act (ERISA) case filed by an airline pilot against his employer and its benefits plan to...more

Proskauer - Employee Benefits & Executive...

Fifth Circuit Holds Participants Lack Standing To Challenge Plan Investment Options

The Fifth Circuit affirmed the dismissal, for lack of standing, of a fiduciary breach representative action against American Airlines and its 401(k) plan investment committee.  Ortiz v. American Airlines, Inc., No. 20-10817,...more

Faegre Drinker Biddle & Reath LLP

ERISA Litigation Roundup: Fifth Circuit Affirms Decision in Favor of American Airlines in Suit Over Plan Investment Alternative...

On July 19, 2021, the Fifth Circuit Court of Appeals issued an opinion in Ortiz v. American Airlines, upholding the dismissal of a class action lawsuit filed against American Airlines, the American Airlines Pension Asset...more

Proskauer - Employee Benefits & Executive...

American Airlines 401(k) Plan Not Required To Offer Stable Value Fund

Among the many claims brought by plaintiffs challenging investment offerings in defined contribution plans is the claim that plans should offer stable value funds in lieu of more conservative capital preservation funds, such...more

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