Embry-Riddle Aeronautical Retirement Fee Suit Dropped by Parties

A participant in Embry-Riddle Aeronautical University‘s retirement plan dropped her proposed class action challenging the plan’s investment options and fee levels.

The parties on Tuesday jointly asked Judge Paul G. Byron to dismiss the case with prejudice, with each side paying their own costs and attorneys’ fees. Their stipulation, filed in the US District Court for the Middle District of Florida, didn’t include further details about how the case was resolved.

• Plaintiff Karen Garceau’s lawsuit says Embry-Riddle mismanaged its $500 million retirement plan by overpaying for administrative services and choosing investments that carried excessive and unnecessary fees
• Her ...