Bailey Glasser Files Class Action Against Intel Corporation

On October 29, 2015, Bailey Glasser partner Greg Porter filed a class action lawsuit on behalf of employees of Intel Corp. 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.