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Judge Approves Class-Action Lawsuit Against American Airlines Over ESG Pension Investments

Posted on AllSides May 23rd, 2024
From The Right

A district judge has granted a pilot’s request for a class-action lawsuit against American Airlines for allegedly investing pension funds into environmental, social, and governance (ESG) funds. The case revolves around the allegation that American Airlines—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. In addition to being disloyal to the employees, the plaintiff, Bryan Spence, argues that American...

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