Calculating Damages in ERISA Litigation

26 Pages Posted: 26 May 2011

See all articles by Allen Ferrell

Allen Ferrell

Harvard Law School; European Corporate Governance Institute (ECGI)

Atanu Saha

Compass Lexecon

Multiple version iconThere are 2 versions of this paper

Date Written: May, 24 2011


In this paper will present and discuss four different methodologies for calculating ERISA damages – what we will label the "best performing fund" "portfolio redistribution," "most similar fund" and "10b-5 style" ERISA damage methods. For purposes of demonstrating how these ERISA damage methods work in practice we will use facts and data from an actual ERISA litigation matter. These different ERISA methods can result in strikingly different damage estimates. In the ERISA matter we analyze, for instance, aggregate damages can range from less than $3 million, using the"“most similar" fund approach, to well over $2 billion using the "best performing fund" ERISA damage method.

Keywords: securities litigation, 10b-5, damages, securities damages, ERISA

JEL Classification: G14, K22, K42

Suggested Citation

Ferrell, Allen and Saha, Atanu, Calculating Damages in ERISA Litigation (May, 24 2011). Available at SSRN: or

Allen Ferrell (Contact Author)

Harvard Law School ( email )

Griswold 303 1525 Massachusetts Avenue
Cambridge, MA 02138
United States
(617) 495-8961 (Phone)
(617) 495-1110 (Fax)

European Corporate Governance Institute (ECGI)

c/o the Royal Academies of Belgium
Rue Ducale 1 Hertogsstraat
1000 Brussels


Atanu Saha

Compass Lexecon ( email )

New York, NY
United States

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