American Airlines broke the law by focusing on ESG in 401(k) plans: judge
AAG(AAL) New York Post·2025-01-11 03:40
A federal judge in Texas on Friday said American Airlines violated federal law by basing investment decisions for its employee retirement plan on environmental, social, and other non-financial factors.The ruling by US District Judge Reed O’Connor appeared to be the first of its kind amid growing backlash by conservatives to an uptick in socially-conscious investing.O’Connor said American had breached its legal duty to make investment decisions based solely on the financial interests of 401(k) plan beneficia ...