“A plaintiff can simply assert that he did not read the relevant plan documents, or simply that he cannot recall whether he saw them,” Intel's appeal argued. “Plan administrators will have no ready means of disproving that assertion.” (Photo: Shutterstock)
(Bloomberg) –The U.S. Supreme Court agreed to use an appeal by Intel Corp. to consider tightening the deadlines for lawsuits over the investments made by worker retirement plans.
Intel is fighting claims by ex-employee Christopher Sulyma that the company made overly risky investments, with too much money in hedge funds and private equity. Intel says the lawsuit was filed after a three-year statute of limitations had expired.
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