(NewMediaWire) - December 11, 2024 - The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Acadia Healthcare Company, Inc. (“Acadia Healthcare”) (NASDAQ: ACHC) on behalf of investors who purchased or otherwise acquired Acadia Healthcare securities between February 28, 2020 and October 30, 2024, inclusive (the “Class Period”) The lead plaintiff deadline is December 16, 2024.CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:
If you suffered Acadia Healthcare losses, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/acadia-healthcare-company-inc?utm_campaign=mei&mktm=r&utm_source=PR&utm_medium=link&utm_campaign=achc&mktm=r
DEFENDANTS’ ALLEGED MISCONDUCT:
The complaints allege that, throughout the Class Period, Defendants made materially false and misleading statements and failed to disclose material adverse facts about the company’s business, operations, and prospects, including that: (1) Acadia Healthcare admitted patients and held them against their will and beyond the length of time that was medically necessary in order to deceive payors into continuing to pay for such patients’ care; (2) Acadia Healthcare would not release patients until their insurance ran out; (3) in order to achieve the above, Acadia Healthcare deployed company assessors to pressure emergency rooms to send patients to company facilities, filed frivolous petitions with courts to delay patients’ release, and directed employees to use buzzwords and avoid using other words in patients’ charts to create a false impression of patients’ mental state; (4) Acadia Healthcare’s admissions, length of stay, and billing practices would subject the company to government investigations and actions and heightened media scrutiny; (5) in light of such government investigations and actions and media scrutiny, Acadia Healthcare’s relationships with its referral sources would be negatively impacted; (6) as a result of the above, Acadia Healthcare experienced slower same-store patient volumes, and in turn, the company would be forced to lower its full-year 2024 outlook; and (7) as a result of the above, Defendants’ positive statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Please CLICK HERE to view our video or copy and paste this link into your browser: https://youtu.be/CuritxMbEbI
THE LEAD PLAINTIFF PROCESS:
Acadia Healthcare investors may, no later than December 16, 2024, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check, LLP encourages Acadia Healthcare investors who have suffered significant losses to contact the firm directly to acquire more information.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaints in this action were not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
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