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Spence v. American Airlines, Inc., et al
Case Number:
4:23-cv-00552
Court:
Nature of Suit:
Labor: Employee Retirement Income Security Act (ERISA)
Multi Party Litigation:
Class Action
Judge:
Firms
- Fillmore Law Firm
- Groom Law Group
- Hacker Stephens
- Kelly Hart
- Munsch Hardt
- O'Melveny & Myers
- Sharp Law LLP
Companies
Sectors & Industries:
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July 12, 2024
American Airlines Pilot Pushes For $16M Win After ERISA Trial
An American Airlines pilot urged a Texas federal court to make the airline cough up nearly $16 million following a June bench trial in a retirement savings class action, arguing the company breached its fiduciary duties to its retirement plan by focusing too heavily on environmental and social factors in investments.
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June 21, 2024
American Airlines Can't Shake ESG Retirement Class Action
A Texas federal judge won't free American Airlines from a class action claiming its pilots' $26 billion retirement plan focused too heavily on environmental and social factors, ruling the airline's failure to push investment managers to abandon the strategy buttresses the plaintiffs' case that American endorsed it.
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May 22, 2024
American Air Pilots Win Cert. Over 401(k)'s ESG Investments
A Texas federal judge on Wednesday certified a class of pilots 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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.