Case Summary
Acadia Healthcare
NASDAQ: ACHC
Case Details
- Kachrodia v. Acadia Healthcare Company, Inc. et al.
- Class Period:February 28, 2020 - September 26, 2024
- Date Filed:October 16, 2024
- Jurisdiction:U.S. District Court, Middle District of Tennessee
- Docket Number: 3:24-cv-01238
- Lead Plaintiff Deadline: December 16, 2024
Seek Plaintiff 0
Overview
A class action lawsuit has been filed against Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) (NASDAQ: ACHC) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws. The Acadia Healthcare class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired publicly traded Acadia securities between February 28, 2020, and September 26, 2024, both dates inclusive (the “Class Period”). Investors have until December 16, 2024, to seek appointment as lead plaintiff in the Acadia class action lawsuit.
Acadia is a leading provider of behavioral healthcare services across the United States. As of September 30, 2023, Acadia operated a network of 253 behavioral healthcare facilities with approximately 11,100 beds in 39 states and Puerto Rico. With approximately 23,000 employees serving more than 75,000 patients daily, Acadia is the largest stand-alone behavioral healthcare company in the United States. Acadia provides behavioral healthcare services to its patients in a variety of settings, including inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers, and outpatient clinics.
The Acadia class action lawsuit claims that Defendants, throughout the Class Period, made false and/or misleading statements and/or failed to disclose that: (1) Acadia business model centered on holding vulnerable people against their will in its facilities, including in cases where it was not medically necessary to do so; (2) while in Acadia facilities, many patients were subjected to abuse; (3) Acadia deceived insurance providers into paying for patients to stay in its facilities when it was not medically necessary; and (4) as a result, Defendants’ statements about their business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
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If you purchased or otherwise acquired publicly traded Acadia securities between February 28, 2020, and September 26, 2024, both dates inclusive and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page.
You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected].
The deadline to apply to the Court to serve as a lead plaintiff in the Acadia class action lawsuit is December 16, 2024.