In the case of Spence vs. American Airlines Inc. et al., U.S. District Court Judge Reed O’Connor, Fort Worth Texas, ruled on ...
American Airlines, Inc., 2024 WL 733640 (N.D. Tex ... The court found it apparent that the plan fiduciaries failed to question BlackRock’s ESG activities, either because the plan sponsor ...
American Airlines' retirement plan management is under scrutiny after a recent ruling by a federal judge. The ruling has ...
On January 10, 2025, the U.S. District Court for the Northern District of Texas issued an opinion in Spence v. Am. Airlines, ...
A Texas judge’s decision in a lawsuit against American Airlines could set the stage for significant changes to the ...
The former employee alleged that 37% of his retirement savings were invested in BlackRock's Target Date 2045 fund, which uses ESG considerations. Spence called American Airlines’ actions ...
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American Airlines Violated Federal Law By Using 401(k) Plan to Promote ESG Funds, Judge RulesNR 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 investment goals.
Federal Judge Reed O’Connor ruled in Spence v. American Airlines that the airline breached its fiduciary duties under the Employee Retirement Income Security Act (ERISA) by choosing a retirement fund ...
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Reuters reports that BlackRock, known for its ESG advocacy, managed passive index funds for the airline's plan. Despite these findings, the judge noted that American Airlines' practices met or ...
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