Advisory Board Securities Settlement
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Pursuant to the Court’s Order, dated April 22, 2020, the hearing on the fairness of Settlement and related matters, which is scheduled for May 6, 2020, at 2:30 p.m., will be conducted by telephone.

Any individuals who wish to participate in the hearing may do so by dialing (888) 557-8511 and entering the following access code: 8107866#. Please dial in to the number provided above at least 10 minutes prior to the start of the hearing (i.e., 2:20 p.m. EST).

This website has been established to provide general information related to the proposed settlement of the lawsuit referred to as Plymouth County Retirement Association v. Advisory Board Company, et al., No. 1:17-CV-01940-RC (the “Litigation”), and is pending before the Honorable Rudolph Contreras in the United States District Court for the District of Columbia (the “Court”). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated December 6, 2019, which can be found and downloaded by clicking on the Case Documents tab above.

The law firm of Robbins Geller Rudman & Dowd LLP represents you and other Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.


This is a securities class action brought against Advisory Board Company ("Advisory Board" or "Company") and certain of its officers and directors (collectively, "Defendants") for alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of all purchasers of Advisory Board common stock during the period between May 6, 2015 and February 23, 2016, inclusive. More specifically, the Lead Plaintiffs City of Atlanta Firefighters' Pension Fund and City of Atlanta Police Officers' Pension Fund allege Defendants made alleged material misstatements and omissions regarding Advisory Board's integration with its acquisition of Royall & Company and its year-end guidance.  

If you purchased or otherwise acquired Advisory Board common stock from May 6, 2015 through and including February 23, 2016, you are a Class Member.   As set forth in the Stipulation, excluded from the Class are: Defendants and their immediate families, the officers and directors and affiliates of Advisory Board during the Settlement Class Period, and the legal representatives, heirs, successors or assigns of any of the foregoing, as well as any entity in which Defendants have or had a controlling interest. Also excluded from the Class is any Person who would otherwise be a Member of the Class but who validly and timely requests exclusion in accordance with the requirements set by the Court.


The proposed Settlement will create a cash settlement fund of $7,500,000 (the “Settlement Fund”), plus any interest that may accrue thereon less certain deductions.

The Settlement Fund, subject to deduction for, among other things, costs of class notice and administration and certain taxes and tax-related expenses, as well as attorneys’ fees and expenses, and the amount to Lead Plaintiffs in connection with their representation of the Class, as approved by the Court, will be available for distribution to Class Members. Your recovery from this fund will depend on a number of variables, including how many shares of Advisory Board common stock you purchased or acquired, the timing of your purchases, acquisitions, and any sales, and how many other Class Members make claims. 


Although the information on this website is intended to assist you, it does not replace the information contained in the Notice and the Stipulation.



The only way to be eligible to receive a payment from the Settlement.  Proof of Claim forms must be postmarked or submitted online on or before May 26, 2020.


Get no payment.  This is the only option that potentially allows you to ever be part of any other lawsuit against the Defendants or any other Released Persons about the legal claims being resolved by this Settlement.  Should you elect to exclude yourself from the Class you should understand that Defendants and the other Released Defendant Parties will have the right to assert any and all defenses they may have to any claims that you may seek to assert, including, without limitation, the defense that such claims are untimely under applicable statutes of limitations and statutes of repose. Exclusions must be postmarked on or before April 15, 2020.


Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and expenses.  You will still be a Member of the Class.  Objections must be received by the Court and counsel on or before April 15, 2020.  If you submit a written objection, you may (but do not have to) attend the hearing.


Ask to speak in Court about the fairness of the Settlement.  Requests to speak must be received by the Court and counsel on or before April 15, 2020.


Receive no payment. You will, however, still be a Member of the Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation.



Submit Proof of Claim

May 26, 2020

Request Exclusion

April 15, 2020

Submit Written Objection

April 15, 2020

Submit Notice of Intention to Appear   

April 15, 2020

Settlement Hearing 

May 6, 2020, at 2:30 p.m. EST