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 ...
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When will BlackRock stand up and defend ESG?
The heat that BlackRock has come under in the US for taking account of environmental, social and governance issues when ...
Court’s ESG Ruling Puts Pressure on Managers of 401(k) Plans
A Texas judge’s decision in a lawsuit against American Airlines could set the stage for significant changes to the ...
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Texas District Court ESG ruling has broader implications for ERISA plan fiduciaries
On January 10, 2025, the U.S. District Court for the Northern District of Texas (the “Court”) held, in Spence v. American Airlines, Inc., ...
JD Supra13d
American Airlines Breaches Fiduciary Duty of Loyalty with BlackRock ESG Funds in 401(k) Plans
Whether, and the extent to which, a plan fiduciary can consider nonpecuniary environmental, social and governance (“ESG”) ...
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American Airlines Faces Backlash For ESG Investments In Employee 401(k) Plans
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 ...
BlackRock, Tennessee settle lawsuit over firm’s ‘misleading’ ESG strategy
The lawsuit accused the firm of making “misleading” statements on how strongly ESG goals drove its investments.