airline-money-benefits-ERISA

Spence v. American Airlines: Expanding the Playing Field for Fiduciary Liability?

A federal court in Texas has ruled that American Airlines breached its duty of loyalty under ERISA by failing to respond to activities undertaken by a plan investment manager (BlackRock) supporting ESG initiatives. The court was unable to find a breach of prudence—rather it relied solely on the obligation of “loyalty.”
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New lawsuit makes serious allegations that TIAA stacked the deck to enhance profitability

New Lawsuit Targets TIAA and Morningstar

A new fiduciary case, Kelley v. TIAA,  has been filed against TIAA and Morningstar. This case is different than the typical “fees are too high and returns are too low” type of case –it contains some significant new accusations against TIAA and raises new issues. If this case succeeds, it could have some far-reaching implications. […]

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