SAN DIEGO, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP (www.JohnsonFistel.com) is investigating whether Acadia Healthcare Company, Inc. (NASDAQ: ACHC), any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors’ losses and whether they may be recovered under the federal securities laws.
What if I purchased Acadia Healthcare common stock? If you purchased securities in the company and suffered losses on your investment, join our investigation now: https://www.johnsonfistel.com/investigations/acadia-healthcare
Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
There is no cost or obligation to you.
What is Johnson Fistel investigating? On Sunday, September 1, 2024, The New York Times published an investigative report titled “How a Leading Chain of Psychiatric Hospitals Traps Patients.” The report highlighted that Acadia Healthcare, one of the largest psychiatric hospital chains in the U.S., saw a significant increase in revenue during the pandemic-driven mental health crisis. However, the investigation revealed troubling practices, including allegations that Acadia detained patients against their will without medical necessity. In at least 12 of the 19 states where Acadia operates, numerous patients, employees, and police officers reported these unlawful detentions to authorities. In some instances, judges had to intervene to secure the release of patients.
Following the publication of this report, Acadia Healthcare’s stock dropped by $3.72 per share, or 4.5%, closing at $78.21 on September 3, 2024.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
