U.S. Supreme Court

Case Status


Docket Number


Cert. Denied


Questions Presented

(1) Whether the plaintiff bears the burden of proving loss causation under § 1109 or whether it can shift the burden on that element to the defendant by carrying its burden on the analytically distinct elements of breach of fiduciary duty and loss to the plan; and

(2) Whether an ERISA fiduciary with a duty of prudence can be held liable for money damages under § 1109 even though its ultimate investment decision was objectively prudent.

Case Updates

Cert. petition denied

June 29, 2015

U.S. Chamber urges Supreme Court to review Fourth Circuit’s erroneous ERISA decision

January 05, 2015

In its brief, the U.S. Chamber urged the U.S. Supreme Court to review a Fourth Circuit decision that split from other circuits and held that under ERISA, defendants must disprove loss causation. The Chamber’s brief argued that the Fourth Circuit created an unworkable standard that, in practice, eliminates the element of loss causation for procedural-prudence claims. It also explained how the decision undermines several clear congressional objectives of ERISA and threatens to halt further percolation.

William M. Jay, James O. Fleckner, Abigail K. Hemani, and Jaime A. Santos of Goodwin Procter LLP served as co-counsel for the U.S. Chamber of Commerce on behalf of the U.S. Chamber Litigation Center.

Case Documents