- Dec 10, 2005
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Two new fun cases crawling out of Judge Reed O'Connor's one man circus show as of late:
American Airlines 401k Program:
www.planadviser.com
Mr O'Connor decreed that AA violated its fiduciary duty in its 401k program because of "woke ESG" funds, even though those types of funds were not default core holdings of the 401k program and they were ones that a participant would have actively had to opt into. (The TLDR for this case is that any consideration for a fund beyond making as much money as possible for the investor is considered woke and would violate fiduciary duties)
Becerra vs Braidwood:
www.scotusblog.com
apnews.com
Here, Mr O'Connor ruled that important public health and preventative health measures, like PrEP (for HIV prevention) and basically anything recommended by the US Preventative Services Task Force (USPSTF), because a) religious groups should be able to opt-out of laws they don't like, and b) he's decided that the provision is unconstitutional because the USPSTF isn't appointed/approved by the president/Senate. It basically threatens any new coverage because of improved screening/treatment guidelines that change as medical technology and whatnot improves. This one is now going up to SCOTUS this term, after the 5th circuit clown show upheld the ruling.
American Airlines 401k Program:

Court Rules American Airlines Breached Fiduciary Duty in ESG Case | PLANADVISER
A federal district court in Texas found that American Airlines prioritized ESG investment goals ahead of employees’ financial interests, violating its fiduciary duties under ERISA.

Becerra vs Braidwood:
Kennedy v. Braidwood Management, Inc.

Federal appeals court says some employers can exclude HIV prep from insurance coverage
Eight employers who challenged some federal health insurance requirements cannot be forced to provide no-cost coverage for certain types of preventive care, including HIV prep and some kinds of cancer screenings, a federal appeals court in New Orleans ruled Friday.
