The U.S. Supreme Court on Monday agreed to hear Intel Corp's bid to avoid a...
WASHINGTON - The U.S. Supreme Court on Monday agreed to hear Intel Corp’s bid to avoid a lawsuit accusing it of violating federal law in making employee retirement plan investments that cost beneficiaries hundreds of millions of dollars.
The lawsuit accused the company committees managing the retirement contribution and 401 savings plans of breaching their fiduciary duty to the participants by placing an overly heavy emphasis on alternative investments such as hedge funds and private equity, in contrast to peer retirement funds. Beneficiaries generally have six years to sue over ill-advised investment decisions. But that deadline is cut to three years if a problem is known sooner.
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