American Airlines Seeks Win in 401(k) ESG Suit After Setback

American Airlines Inc. renewed its effort to kill litigation over its 401(k) plan’s alleged ties to investments focused on environmental, social, and corporate governance goals, asking for a summary judgment victory five days after its motion to dismiss fell flat.

The record shows American’s process for choosing and monitoring plan investment options was “at all times state of the art” and that it “secured contractual commitments from all investment managers to pursue investors’ financial interests when voting the Plans’ proxies,” the airline said. There’s no evidence plan fiduciaries held any improper motives, whether “ESG-related or not,” and plaintiff Bryan Spence ...