American Airlines, fund company settle 401(k) lawsuit for $22m

American Airlines and investment manager American Beacon Advisors have agreed to pay $22m to resolve a proposed class action accusing them of improperly profiting from the airline's employee plan at the expense of workers. Disclosed in a filing on Friday in Fort Worth federal court, the settlement will resolve claims that American Airlines used American Beacon as an investment manager for its workers' 401(k) plan because the airline had a financial stake in the investment company. American Beacon then packed the retirement plan with its own funds when cheaper options were available, the lawsuit had alleged.<br/>