SAN FRANCISCO, Oct. 05, 2018 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP alerts investors in Acadia Healthcare Company (NASDAQ: ACHC) to the December 3, 2018 Lead Plaintiff deadline in the securities class action pending in the United States District Court for the Middle District of Tennessee. If you purchased or otherwise acquired Acadia Healthcare securities between February 23, 2017 and October 24, 2017 (the “class period”) and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/ACHC
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
Throughout the class period, Defendants made positive statements concerning Acadia Healthcare’s United Kingdom facilities.
Then, on October 24, 2017, Defendants reported disappointing earnings, revealed problems with the Company’s U.K. facilities, and significantly reduced 2017 earnings guidance.
This news drove the price of Acadia Healthcare shares down $11.44, or about 26%, to close at $32.68 on October 25, 2017.
Beforehand, during August 2017, Acadia Healthcare’s management (CEO Joey Jacobs and President Brent Turner) sold over 706,000 shares of the Company stock for proceeds of over $35 million.
“We’re focused on investors’ losses and whether Defendants masked the true condition of its business, including the U.K. business,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Acadia Healthcare should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email ACHC@hbsslaw.com.
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Contact:
Reed Kathrein, 510-725-3000