Federal Judge Dismisses ERISA Action Over American Airlines Credit Union Fund

Mealey's (August 10, 2020, 10:27 AM EDT) -- FORT WORTH, Texas — A federal judge in Texas on Aug. 5 dismissed with prejudice a lawsuit from a pair of pension plan participants against American Airlines Inc. and related entities, ruling that the participants had failed to show that the inclusion of a credit union fund option in their 401(k) lineup amounted to an economic injury and an act of fiduciary imprudence under the Employee Retirement Income Security Act (Salvadora Ortiz, et al. v. American Airlines Inc., et al., No. 16-151, N.D. Texas, 2020 U.S. Dist. LEXIS 139411)....