| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for Health Diagnostic Laboratory, Inc. > News item |
Health Diagnostic director says company granted unauthorized releases
By Mark Reccek
Bethlehem, Pa., Feb. 9 – Health Diagnostic Laboratory, Inc.'s director and shareholder and former chief scientific officer G. Russell Warnick filed a lawsuit Tuesday against Health Diagnostic Laboratory, Integrated Health Leaders LLC and True Health Diagnostics LLC alleging he did not authorize releases connected with the True Health asset purchase agreement, according to a Tuesday filing with the U.S. Bankruptcy Court for the Eastern District of Virginia.
Warnick is specifically seeking a court ruling declaring such releases unenforceable.
According to the complaint, the asset purchase agreement with True Health grants the company releases to over 80 entities. In the process of doing so, the company “represented and purported to have the authority to act for, inter alia, themselves and their subsidiaries, officers, directors and shareholders —including Mr. Warnick,” the complaint said.
Warnick asserts he was unaware of any of his claims against such entities.
“Mr. Warnick did not learn of the releases purportedly provided to more than 80 entities in his name until weeks after the True Health sale closed,” the complaint said.
Warnick is also asking the court to relieve the Warnick parties from the sale order.
“HDL [Health Diagnostic Laboratory] and its subsidiaries represented to this court that they could legally provide these expansive releases on behalf of Mr. Warnick,” the complaint added. “The court relied upon this representation when it approved the True Health sale and the corresponding releases — including the releases allegedly authorized by Mr. Warnick.”
Health Diagnostic, a Richmond, Va.-based blood testing company, filed for bankruptcy on June 7, 2015. The Chapter 11 case number is 15-32919.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.