Home Depot ERISA Loss Causation Case Dropped Without SCOTUS Look

Home Depot Inc. employees challenging their retirement plan dropped their lawsuit days before the US Supreme Court was slated to decide whether to use the dispute to review a circuit split under ERISA.

The class action challenged Home Depot’s 401(k) plan fees and investment options. The retailer prevailed below, when the US Court of Appeals for the Eleventh Circuit held that plaintiffs bringing fiduciary breach claims under the Employee Retirement Income Security Act have the burden of proving that the purported breach of duty caused the plan to suffer losses.

The workers appealed to the Supreme Court, arguing that once ...