The district court pre-trial judgment in Intel’s favor—based on a finding that the investor had sufficient information available to him to know about the allegedly imprudent investments three years before he sued—is wrong, the U.S. Court of Appeals for the Ninth Circuit held Nov. 28.
The investor in Intel’s 401(k) plan was required to have actual knowledge both that the investments occurred, and that they were imprudent, the judges said. The investor, ...