Class Action Lawsuit Against Intel Corporation Filed By Bailey Glasser
Bailey & Glasser partner Gregory Porter filed a class action lawsuit against Intel Corp., on behalf of employees whose retirement accounts were invested in target date funds designed and managed by Intel officers. Instead of buying, low-cost and proven target date funds from professional asset managers like Fidelity or Vanguard, Intel decided to create a customized set of funds. These funds are far more expensive than comparable funds managed by investment professionals and have suffered woeful performance. We estimate that Intel’s imprudent investment management decisions have cost its employees over $600 million.
A copy of the complaint can be found here.
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