Trial Date Set for Class-Action Lawsuit Against American Airlines Over ESG Pension Investments

Published on June 22, 2024

A pilot’s class-action lawsuit against American Airlines (AA) for allegedly investing pension funds in environmental, social, and corporate governance (ESG) funds is set to be heard on June 24 after a Texas district judge denied a request for dismissal. AA filed its motion for dismissal in February of this year. The case revolves around plaintiff Bryan Spence’s allegation that AA—headquartered in Fort Worth, Texas—violated its fiduciary obligation to the Employee Retirement Income Security Act (ERISA) “by investing millions of dollars of American Airlines employees’ retirement savings with investment managers and investment funds that pursue political agendas” through ESG initiatives....

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