Putnam Investments, LLC v. Brotherston

Court:

U.S. Supreme Court

(petition for writ of cert.)

Amicus Issue:

Whether an ERISA plaintiff bears the burden of proving that a fiduciary’s breach caused losses to the plan, as six circuits have concluded, or whether ERISA defendants bear the burden of disproving causation, as four circuits have concluded.  Whether comparing the performance returns of investments selected by ERISA plan fiduciaries against the performance returns of index funds is, as a matter of law, sufficient to prove loss in ERISA cases alleging an imprudent investment decision-making process.

Counsel of Record:

Jones Day

Shay Dvoretzky

Kevin Noble

Jeffrey R. Johnson

Other Amici:

U.S. Chamber of Commerce

American Benefits Council

ERISA Industry Committee

American Retirement Association

National Association of Manufacturers

Business Roundtable