Intel 401(k) Committee Beats Hedge Fund, Private Equity Lawsuit

Intel Corp.'s retirement plan committee convinced a California federal judge to dismiss a proposed class action challenging the plan’s investment in hedge funds and private equity. The ruling comes one year after the U.S. Supreme Court considered the dispute.

Intel plan participants Winston Anderson and Christopher Sulyma didn’t show in their consolidated complaint that the challenged 401(k) funds were imprudent on the basis of performance or fees, because they failed to provide suitable benchmark funds that would allow the court to make a meaningful comparison, Judge Lucy H. Koh of the U.S. District Court for the Northern District of California ...