American Airlines Faces Backlash For ESG Investments In Employee 401(k) Plans
American Airlines' retirement plan management is under scrutiny after a recent ruling by a federal judge. The ruling has sparked debates over the role of environmental, social and governance (ESG) factors in employee investments.
In the case of Spence vs. American Airlines Inc. et al., U.S. District Court Judge Reed O’Connor, Fort Worth Texas, ruled on ...
A Texas judge’s decision in a lawsuit against American Airlines could set the stage for significant changes to the ...
A judge ruled the airline violated its fiduciary duty to loyalty through its retirement plan management, though experts say “the bar is being set really low for what's a violation.” ...
On January 10, 2025, the U.S. District Court for the Northern District of Texas (the “Court”) held, in Spence v. American Airlines, Inc., ...
"We request SEC and DoL take decisive action to uphold fiduciary duty laws," 22 state financial officers demanded in a letter ...
The heat that BlackRock has come under in the US for taking account of environmental, social and governance issues when ...
Long before a Texas judge ruled that American Airlines' 401 (k) plans' ESG practices violated federal law, research showed that sustainable investing was losing momentum among DC plan consultants, ...
In fact, the committee that considers investments for our plan has expressly rejected ESG investments,” an American Airlines spokesperson told The Hill in a statement. BlackRock’s role in the ...
The lawsuit accused the firm of making “misleading” statements on how strongly ESG goals drove its investments.
Simply sign up to the ESG investing myFT Digest -- delivered directly to your inbox. A US federal court has ruled that American Airlines has failed workers by picking BlackRock to manage part ...
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