In this piece: “Practical Takeaways from Spence v. American Airlines, Inc. for ERISA Plan Fiduciaries,” Ropes & Gray summarizes the facts associated with the recent, widely-publicized ruling by the District Court for the Northern District of Texas that a company breached its fiduciary duty of loyalty under ERISA due to the ESG-related influence of its investment manager notwithstanding the absence of ESG-focused funds in the company’s 401(k) plan. Key takeaways include guidance to companies to reduce the risk of being on the wrong end of similarly targeted litigation.
This post first appeared in the weekly Society Alert!