Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

Intel Workers Tell SCOTUS to Pass on Private Equity 401(k) Case

April 30, 2019, 3:37 PM

Intel Corp. employees who challenged the hedge fund and private equity investments in their 401(k) plan told the U.S. Supreme Court their case is a poor vehicle for resolving a “shallow” circuit split.

The dispute asks when the clock starts running on the deadline to file suit under the Employee Retirement Income Security Act. The U.S. Court of Appeals for the Ninth Circuit revived the employees’ case against Intel after deciding the clock didn’t start running until plan participants had actual, rather than constructive, knowledge of the alleged fiduciary breach—here, the 401(k) plan’s alternative investments.

Intel’s petition for Supreme Court ...