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Duty of Loyalty Today's Popular Updates Investment Management

Troutman Pepper Locke

Texas Federal Court Allows an ERISA Fiduciary Challenge Against Alleged "ESG Investing" Without Any ESG Funds

Troutman Pepper Locke on

On January 10, 2025, in Spence v. American Airlines, a federal district court in Texas ruled that American Airlines (the company) and the committee overseeing its 401(k) plans (the committee) breached their duty of loyalty...more

Verrill

Spence v. American Airlines: A Texas Court’s View of the Duty of Loyalty under ERISA

Verrill on

Since we last discussed environmental, social, and corporate governance (“ESG”) developments in the context of ERISA retirement plans, ESG litigation has taken a rather unexpected turn. Although the plan lineup in Spence v....more

Fenwick & West LLP

Judge Finds American Airlines Breached its Fiduciary Duty of Loyalty by Allowing Investment Manager to Prioritize ESG Goals with...

Fenwick & West LLP on

On January 10, 2025, the U.S. District Court for the Northern District of Texas found that American Airlines and its employee benefit committee (EBC) breached their fiduciary duty of loyalty under the Employee Retirement...more

McDermott Will & Emery

Oracle Granted Partial Summary Judgment in 401(k) Fees/Investment Option Case

McDermott Will & Emery on

The US District Court for the District of Colorado granted partial summary judgment to 401(k) fiduciaries, holding that ERISA’s six-year statute of repose barred some claims and rejecting challenges to the plan’s fees....more

Littler

Victory for NYU After First Trial in the 401(k) Fee Cases Filed Against Colleges and Universities

Littler on

In the past two years, more than 16 prominent colleges and universities across the country have been targeted by class action lawsuits filed under the Employee Retirement Income Security Act (ERISA) challenging the fees and...more

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