February 26, 2020 / 3:10 PM / 3 months ago

U.S. Supreme Court allows retirement plan lawsuit against Intel

WASHINGTON, Feb 26 (Reuters) - The U.S. Supreme Court on Wednesday refused to back stricter deadlines for workers to sue retirement plans over alleged mismanagement, ruling Intel Corp cannot void a lawsuit accusing it of violating federal law by making high-risk investments that cost retirement plan beneficiaries hundreds of millions of dollars.

In a unanimous ruling, the justices upheld a lower court decision that revived the proposed class-action lawsuit by former Intel engineer Christopher Sulyma against Intel. The justices rejected the tech company’s argument that Sulyma’s lawsuit had been filed too late.

Reporting by Andrew Chung; Editing by Will Dunham

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