Biz Groups Urge Justices To Undo Ruling In Intel ERISA Case

Law360 (August 29, 2019, 3:05 PM EDT) -- The U.S. Chamber of Commerce, ERISA Industry Committee and others have asked the U.S. Supreme Court to upend a Ninth Circuit ruling about when the clock starts on Employee Retirement Income Security Act claims, arguing the decision exacerbates the threat of hindsight-based litigation.

In their amicus brief Wednesday, the business groups told the justices, who agreed to hear the case in June, that the Ninth Circuit shouldn’t have revived Christopher M. Sulyma’s proposed class action alleging that two Intel Corp. retirement plans invested his and others' savings in risky private equity investments and hedge funds, causing significant losses.

The Ninth Circuit...

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