BOSTON, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Block & Leviton announces that a securities fraud lawsuit has been filed against Acadia Healthcare Company, Inc. (Nasdaq: ACHC) and certain of its executives. Investors who have lost money in their Acadia Healthcare Company, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/achc.
What is this all about?
Acadia Healthcare has been sued for violations of the securities laws following the Company's September 27, 2024 announcement that it received a federal grand jury subpoena related to its admissions, length of stay, and billing practices. The New York Times had previously reported that Acadia illegally detained patients against their will when not medically necessary by invoking laws meant for people who pose an imminent threat to themselves or others. The Company's stock price fell 16% on September 27, 2024, wiping out over $1 billion in market capitalization.
Who is eligible?
Anyone who purchased Acadia Healthcare Company, Inc. common stock between February 28, 2020 and September 26, 2024 and has seen their shares fall may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What should you do next?
The deadline to seek appointment as lead plaintiff is December 16, 2024. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at shareholders@blockleviton.com, or by phone at (888) 256-2510.
Whistleblower?
If you have non-public information about Acadia Healthcare Company, Inc., you should consider assisting in our investigation or working with our attorneys to file a report with the Securities Exchange Commission under their whistleblower program. Whistleblowers who provide original information to the SEC may receive rewards of up to 30% of any successful recovery. For more information, contact Block & Leviton at whistleblowers@blockleviton.com or by phone at (888) 256-2510.
Why should you contact Block & Leviton?
Block & Leviton is widely regarded as one of the leading securities class action firms in the country. Our attorneys have recovered billions of dollars for defrauded investors and are dedicated to obtaining significant recoveries on behalf of our clients through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, call (888) 256-2510 or email shareholders@blockleviton.com with any questions.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (888) 256-2510
Email: shareholders@blockleviton.com
