American Airlines 401(k) ESG Row Spurs $8 Million Lawyer Fee Ask

The lawyers who were awarded no damages after winning a trial over the American Airlines Inc. 401(k) plan’s ties to socially conscious investing are seeking nearly $8 million in attorneys’ fees and costs.

Law firms Hacker Stephens LLP and Sharp Law LLP want to be reimbursed for nearly 5,900 hours of work in the case, saying they successfully proved American breached its fiduciary duty of loyalty and secured an injunction benefiting workers covered by the airline’s retirement plan.

Hacker Stephens is a “two-lawyer firm that had never had an ERISA case before this one,” and it worked with Sharp to ...