Welcome to the Settlement Homepage

• A Settlement has been reached in a class action lawsuit concerning the Advanced Diagnostic Group Employee Stock Ownership Plan (the “Plan”). The class action lawsuit involves whether the Plan, which was established in 2015 and terminated in 2019, had been created, administered, and terminated by Defendants Kevin G. Johnson, Nathan S. Ward, Shaun L. McGruder, Michael L. Schmickle, Leigh A. Fernandes, Dale L. Hersey, Joshua A. Blacksten, ADG Management Holdings, LLC, and GreatBanc Trust Co. (collectively, “Defendants”) in accordance with certain provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”). ERISA is the federal law that regulates and sets minimum standards for the administration of most retirement plans in the private sector, including the Plan. Defendants deny all claims, and nothing in the Settlement is an admission or concession on Defendants’ part of any fault or liability whatsoever.
• The Settlement will provide, among other things, for a $19 million Settlement Fund that will be allocated to eligible Settlement Class Members after any Court-approved deductions for Attorneys’ Fees and Costs, and Administrative Expenses.
• The Settlement Class (whose members are “Settlement Class Members”) includes all Participants who were issued a distribution from the Plan, or their Beneficiaries or Alternate Payee, excluding Leigh Anne Fernandes and Dale Hersey.
• The Court still has to decide whether to give its final approval to the Settlement. Payments under the Settlement will be made only if the Court finally approves the Settlement, and that final approval is upheld in the event of any appeal.
• A Fairness Hearing will take place on October 9, 2024, at 2:30 PM, before Magistrate Judge Thomas G. Wilson,United States District Court for the Middle District of Florida, 801 North Florida Avenue, Tampa, Florida 33602, in Courtroom 12A, to determine whether to grant final approval of the Settlement and approve the requested Attorneys’ Fees and Costs, and Administrative Expenses. If the Fairness Hearing is rescheduled, or if it is held by video conference or telephone, a notice will be posted on the Settlement Website.
• Any objections to the Settlement, or to the requested Attorneys’ Fees and Costs, and Administrative Expenses, must be filed with the Clerk of Court and served in writing on Class Counsel and Defense counsel.

This website is provided as a service to eligible settlement participants. The information provided is in summary form and is not intended as a complete explanation of your rights. For full and complete information, you are directed to review carefully the Notice of Proposed Class Action Settlement.