On February 26, 2020, the United States Supreme Court issued a decision in the closely watched Intel Corp. Investment Policy Committee et al. v. Sulyma case, making it more difficult for employers to seek early dismissal of class actions brought by participants in their retirement plans by narrowing the circumstances where a shorter three-year statute of limitations will apply instead of the standard six-year period. The decision may add further momentum to the ongoing wave of fiduciary breach class actions that have already resulted in hundreds of millions of dollars in settlements from plan sponsors. The decision is also noteworthy because it will allow the lower courts to assess the underlying question of whether Intel acted prudently when it decided to include alternative investments (such as hedge funds and private equity funds) in its plans.
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