Jacob Hupart shared insights with Responsible Investor about the final ruling in a suit against American Airlines over its investment of 401(k) money with asset managers pursuing ESG goals. The judge ruled that the airline had broken its “duty of loyalty” but rejected claims for damages.

Jacob says,“Here, even though plaintiffs proved a breach of fiduciary duty due to ESG-focused investing by a retirement plan, that legal victory ultimately proved hollow in the absence of significant damages.”

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Responsible Investor