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Intel Beats Lawsuit Over Alternative Investments in 401(k) Plans

April 3, 2017, 4:59 PM

Intel Corp. escaped a lawsuit accusing it of breaching its ERISA fiduciary duties by investing a significant portion of its retirement plans’ assets in alternative investments, including hedge funds, private equity and commodities (Sulyma v. Intel Corp. Inv. Policy Comm., 2017 BL 106910, N.D. Cal., 5:15-cv-04977, 3/31/17).

The lawsuit was time-barred by the Employee Retirement Income Security Act’s three-year statute of limitations for fiduciary breach claims, a magistrate judge in a federal court in California held March 31.

Intel joins a list of major companies, including CVS Health Corp. and Chevron Corp., that have successfully defended lawsuits ...