Case Name and Number: Spence v. American Airlines, Inc., et al., No. 4:23-cv-00552 -
INTRODUCTION -
On June 20, 2024, Judge Reed O’Connor in the Northern District of Texas (the “court”) denied a motion for summary...more
6/27/2024
/ 401k ,
American Airlines ,
Breach of Duty ,
Class Action ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary ,
Fiduciary Duty ,
Investment Management ,
Retirement Plan
On April 3, 2024, the US Department of Labor (“DOL”) published the final amendment (“Amendment”) to Prohibited Transaction Class Exemption 84-14, otherwise known as the “QPAM Exemption” (“Exemption”).1 The Exemption is...more
Case Name and Number: Spence v. American Airlines, Inc., et al., No. 4:23-cv-00552 -
Introduction -
On February 21, 2024, Judge Reed O’Connor in the Northern District of Texas (the “Court”) denied a motion to dismiss an...more
3/8/2024
/ 401k ,
American Airlines ,
Benefit Plan Sponsors ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
ERISA Litigation ,
Fiduciary Duty ,
Fund Managers ,
Investment Funds ,
Motion to Dismiss ,
Retirement Plan
Many medical benefit plan fiduciaries contract with pharmacy benefit managers (“PBMs”) to administer the prescription drug portion of their health plans, placing the PBM in charge of day-to-day management of the programs....more