"The plaintiffs say ... that the burden should be flipped, which means ERISA fiduciaries are required to show that their plans' losses were caused by something other than their own failure to investigate and evaluate. In other words, show that the losses were not caused by their breach.... We cannot agree. Our prior precedent forecloses adopting this burden-shifting framework, as do ordinary principles of civil liability. Nor does ERISA's text help the plaintiffs -- it offers no indication that Congress intended to require defendant fiduciaries to disprove loss causation. The plaintiffs thus bore the burden, but they did not sustain it. ERISA requires a prudent process, but it does not guarantee good results." [Pizarro v. Home Depot, No. 22-13643 (11th Cir. Aug. 2, 2024)]  MORE >>