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Final Judgment in ESG Fiduciary Breach Claim: Monetary Damages Denied, but Targeted Equitable Relief Imposed
Ropes & Gray LLP 
Oct. 3, 2025 "The court issued tailored injunctions aimed at stewardship practices, fiduciary independence and transparency while declining to disturb the plans' investment structure.... [E]ven though there are no monetary damages, [the judgment] imposes significant restrictions on how American Airlines and its plan fiduciaries can manage their plans going forward.... ERISA fiduciaries should be taking steps to demonstrate how all investment decisions and shareholder engagement/proxy voting activities are driven by pecuniary objectives." [Spence v. Am. Airlines, Inc., No. 23-0552 (N.D. Tex. Sep. 30, 2025)] MORE >> |
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