Jackson Walker represents American Airlines Federal Credit Union (AAFCU) in a potential class action filed with the Northern District of Texas. The suit alleges American Airlines breached its fiduciary duty under the Employment Retirement Income Security Act by failing to provide a “properly performing” low-risk investment option and instead funneled workers’ investments into an underperforming option that benefited the credit union. Plaintiffs seek to have the class of at least 20,000 retirement plan participants certified by the court.
The AAFCU is a member-owned, cooperative financial institution that serves present and retired American Airlines employees, their families, and those who work in the air transportation industry.
For more information, read Law360’s “Ex-American Airlines Workers Seek Class Cert. In ERISA Suit.”
Dallas partner Jonathan D. Neerman is experienced in all phases of litigation, not only at the trial and appellate levels in federal and state courts but also in various alternative dispute resolution forums. Jonathan handles high-stakes disputes under the ERISA statute. He represents the employer/sponsors of retirement plans, as well as product and service providers to such plans, when the plans’ fiduciaries are alleged to have caused the plans to pay excessive fees, select poor-quality investments, or engage in “prohibited transactions.” His practice also includes commercial litigation, arbitration, complex business litigation, real estate litigation, securities litigation, and regulatory enforcement, primarily involving financial institutions.
Dallas associate Edwin Buffmire represents clients in antitrust, class action, trade secret, and other complex and sensitive disputes in Texas and across the nation. Edwin has built successful strategies for clients in a variety of industries, including obtaining dismissals for insurers in three class actions, defending an energy client against allegations of anticompetitive conduct in the natural gas industry, securing two full defense verdicts at trial for a securities brokerage firm against RICO claims, and defending media clients against a putative nationwide class asserting conspiracy allegations.