Putnam Continues Fight for Supreme Court Look at ERISA Causation

Putnam Investments LLC redoubled its effort to have the U.S. Supreme Court hear a dispute over its 401(k) plan, calling the federal government’s recent brief in the case a “self-interested” attempt to avoid the resolution of an entrenched circuit split.

The case gives the court the opportunity to resolve a 6-4 split among federal circuit courts on how parties prove whether retirement plan mismanagement caused plan losses, Putnam said. This question has come to the Supreme Court three times since 2015, and the government’s agreement with the minority position “is no reason to leave the circuits split,” Putnam said in ...