AIT Laboratories Employee Stock Ownership Plan's total gain from bank and CEO settlements is now at $7.1 million. (Photo: iStock)

The AIT Laboratories Employee Stock Ownership Plan stands to recover an additional $3.47 million in a settlement reached between the Department of Labor’s Employee Benefits Security Administration and the plan’s trustee, PBI Bank Inc., and Michael Evans, chief executive officer of AIT Laboratories.

The settlement comes on the heels of two others that, together with the latest agreement, total approximately $7.1 million.

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