After Trial, Judge Finds Disloyalty In ERISA Suit Over Fund Manager’s ESG Efforts

( January 13, 2025, 11:44 AM EST) -- FORT WORTH, Texas — In a Jan. 10 ruling issued after a bench trial in a class action over environmental, social and governance (ESG) considerations and the purported proxy voting activism of investment management firms, a Texas federal judge found that American Airlines Inc. and its employee benefits committee breached their fiduciary duty of loyalty but not their duty of prudence....