A federal judge has ruled that American Airlines must face a lawsuit alleging the company failed to prudently oversee employee retirement funds by using asset managers focused on sustainable investment strategies. This decision allows the anti-ESG lawsuit to proceed, highlighting a growing legal scrutiny over companies' environmental, social, and governance (ESG) investment practices. In a related development, ExxonMobil announced its lawsuit against activist investors, including Follow This and Arjuna, aiming to secure a shareholder vote on the oil giant's climate policies, will also proceed. The company stated the lawsuit is essential to prevent similar future actions by activists.
ESG activists Follow This, Arjuna still targets of Exxon lawsuit https://t.co/zz0lW5JdfY via @pensionsnews
ExxonMobil said that its lawsuit against activist investors that sought a shareholder vote on the oil giant’s climate policies must go forward to stop them from pursuing similar efforts in the future. https://t.co/z3HZmiC0tE
American Airlines must face lawsuit over ESG retirement investing https://t.co/WZvCQ2Hhzn https://t.co/j7e2SE28FX
⚠️ AMERICAN AIRLINES MUST FACE LAWSUIT OVER ESG RETIREMENT INVESTING (Reuters) American Airlines must face a lawsuit claiming it failed to prudently oversee employee retirement funds because it used asset managers that pursued sustainable investment strategies, a federal judge… https://t.co/hWqgn6tQPq
Anti-ESG lawsuit against American Airlines allowed to proceed https://t.co/vLRrLA82uL via @pensionsnews