Garceau v. Embry-Riddle Aeronautical University Inc.
Retained by Carlton Fields
Plaintiffs alleged excessive fees in the Embry-Riddle Aeronautical University (ERAU) retirement plan. Defense counsel retained Cornerstone Research to support Steven Grenadier of Stanford Graduate School of Business.
The court relied heavily on Professor Grenadier’s analysis.
In a previous matter with similar allegations, Lopez v. ERAU, the court declined to certify the class. In its decision in this earlier matter, the court relied heavily on Professor Grenadier’s analysis to determine that the named plaintiff did not suffer harm and that her claims led to conflicting economic interests among the putative class members.
Plaintiffs’ counsel then refiled the case with a different named plaintiff in Garceau v. ERAU. Professor Grenadier submitted a report for both class certification and merits. In his reports, Professor Grenadier explained the critical deficiencies that remained in the allegations, including that many plan participants, including the named plaintiff, were not harmed by the alleged breach of fiduciary duty.
In November 2025, plaintiffs’ counsel dismissed the matter.
Washington 
