A federal judge in one of the country’s most conservative district courts ruled Friday that American Airlines unlawfully incorporated environmental and sustainable governance (ESG) factors into its employee retirement plan.



19331892

Reuters

United Kingdom

American Airlines' focus on ESG in retirement plan is illegal, US judge rules

The ruling appeared to be the first of its kind.

Ad Fontes Media

All Sides

Media Bias/Fact Check

The Woodbridge Company

TEXAS: According to a Federal judge in Texas, American Airlines violated federal law by basing investment decisions for its employee retirement plan on environmental, social and other non-financial factors.

The Star Kuala Lumpur

Star Media Group

Malaysia

Judge says American Airlines’ focus on ESG illegal

A federal judge in Texas on Friday said American Airlines violated federal law by basing investment decisions for its employee retirement plan on environmental, social, and other non-financial factors.

American Airlines broke the law by focusing on ESG in 401(k) plans: judge

New York Post

Murdoch family

New York

United States

A federal judge in one of the country’s most conservative district courts ruled Friday that American Airlines unlawfully incorporated environmental and sustainable governance (ESG) factors into its employee retirement plan. In a 70-page ruling following a four-day non-jury trial, Judge Reed O’Connor of the Northern District of Texas ruled the airline violated its fiduciary duty…

American Airlines ESG investing strategy violated federal law, judge rules

The Hill

Nexstar Media Group

Washington

District of Columbia

A district court has ruled that American Airlines failed to prioritize the financial interests of its employees’ retirement funds by enabling fund managers to pursue environmental, social, and governance (ESG) investments.
The judgment came as part of a 2023 lawsuit filed against American Airlines and the company’s Employee Benefits Committee. The class action alleges that the defendants violated their duty of loyalty under the Employee Retireme…

The Epoch Times

Epoch Media Group

American Airlines Mismanaged Employees’ Retirement Funds by Investing in ESG, Court Rules

By Daniel Wiessner (Reuters) -A federal judge in Texas on Friday said American Airlines violated federal law by basing investment decisions for its employee retirement plan on environmental, social and other non-financial factors. The ruling by U.S. 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. O’Connor said American had breached its legal du…

WTVB

Midwest Communications

American Airlines’ focus on ESG in 401(k) plan is illegal, US judge rules

RedState

Salem Media Group

Last Major US Company Exits 'ESG' Silliness Because a Court Rules It Is Illegal and Congress Hates It

U.S. district judge rules American Airlines violated retirement investment laws by prioritizing socio-political outcomes over financial terms.

Seeking Alpha

Texas judge finds American Airlines broke federal law in ESG investing (AAL)

Case over pension scheme management highlights rising risks of legal challenges over environmentally-focused policies

Financial Times

Nikkei Inc.

London

Greater London

England

American Airlines’ use of ‘ESG activist’ BlackRock failed workers, US judge says

In a major, first-of-its-kind milestone along ESG’s relentless march to its grave, a federal court has ruled that American Airlines breached its duty to employees by tapping ESG-addled BlackRock to manage part of its 401(k) plan.   “The facts here compellingly established fiduciary misconduct in the form of conflicts of interest and the failure to loyally […]

American Airlines ESG investing strategy violated federal law, judge rules

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