Bryanp Spence News Today

A Texas federal judge has scheduled a trial date, following the entry by attorneys for each side of pretrial materials, including witnesses that each expects to testify. 

The plaintiff, Bryan Spence, referenced another federal court’s decision in asking a Texas federal court to deny the defendants’ motion to dismiss.  

Both parties brought motions as a former pilot asserts that fiduciaries for American Airlines’ defined contribution plans breached their duty by including investment managers and funds focused on environmental, social and governance factors.

The plaintiff responds to an American Airlines motion to dismiss by alleging he was, in fact, defaulted into ESG-related funds that underperformed. 

Fidelity Institutional and Financial Engines Advisors, LLC were removed as defendants to the lawsuit, the court docket shows.

An American Airlines pilot sued the company contending that two company 401(k) plans violate ERISA by offering investments that emphasize ESG.