Intel 401(k) Committee Again Beats Private Equity Lawsuit

Intel Corp.'s retirement plan committee defeated the bulk of a proposed class action challenging the plan’s hedge fund and private equity investments, according to a California federal judge’s ruling two years after the U.S. Supreme Court considered the dispute.

The plan participants failed to show that the challenged Intel target-date funds were imprudent, because they didn’t identify meaningful benchmark investments that would allow the court to make an appropriate comparison, Judge Lucy H. Koh said in a Jan. 8 opinion. The participants provided “generalizations” about features common to target-date funds, but they didn’t provide specific details on the investment strategies, ...