Texas judge strikes down American Air’s ESG focus in retirement accounts
A federal judge struck another legal blow against ESG, ruling that non-financial decisions made in 401(K) accounts were illegal.
Judge Rules American Airlines Violated Retirement-Plan Duties by Encouraging ESG Investing
A federal judge ruled Friday that American Airlines violated its legal responsibilities in managing employees’ retirement assets by encouraging environmentally and socially responsible investing in its 401(k) plan.
ESG Opponents Get Novel Win in American Airlines 401(k) Suit
American Airlines Inc. violated federal law by filling its 401(k) plan with funds from investment companies that pursue environmental, social, and corporate governance goals, a Texas federal judge ruled Friday in the biggest victory yet for opponents of the strategy.
American Airlines broke the law by focusing on ESG in 401(k) plans: judge
The ruling by US District Judge Reed O’Connor appeared to be the first of its kind amid growing backlash by conservatives to an uptick in socially-conscious investing.
Court Rules American Airlines Breached Fiduciary Duty in ESG Case
A federal district court in Texas found that American Airlines prioritized ESG investment goals ahead of employees’ financial interests, violating its fiduciary duties under ERISA.
Federal judge rules against American Airlines in signature 401(k) ESG lawsuit
This was the first challenge to a DC plan sponsor’s use of environmental, social and governance principles, and the judge’s ruling adds to the efforts by certain politicians and legislatures to claim ESG principles adversely affect retirement plan investments.
Texas court rules against American Airlines in ESG 401(k) plan case
The presiding judge found the airline breached its fiduciary duty under federal law by prioritizing non-financial considerations in its employee retirement plan.
American Airlines Violated Federal Law By Using 401(k) Plan to Promote ESG Funds, Judge Rules
NR has reached out to American Airlines for comment. BlackRock routinely points to high returns on its ESG products and its client satisfaction in response to criticism of its inv
Texas judge finds American Airlines broke federal law in ESG investing
A U.S. district judge in Texas ruled that American Airlines (NASDAQ:AAL) violated U.S. law governing employee retirement investment management by basing investment decisions on socio-political outcomes rather than exclusively on financial terms.
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