LOS ANGELES, Nov. 15, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Acadia Healthcare Company, Inc. ("Acadia Healthcare" or the "Company") (NASDAQ: ACHC) investors of a class action representing investors that bought securities between February 28, 2020 and October 18, 2024, inclusive (the "Class Period"). Acadia Healthcare investors have until December 16, 2024 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On October 21, 2024, a lawsuit was filed against Acadia Healthcare and several of its current and former executives. The complaint alleges that, throughout the class period, the defendants made false or misleading statements and failed to disclose key information, including that: (1) Acadia's business model relied on holding vulnerable individuals in its facilities against their will, even when it was not medically necessary; (2) many patients in Acadia facilities were subjected to abuse; (3) Acadia deceived insurance providers into covering stays for patients that were not medically necessary; and (4) as a result, the defendants' statements about the company's operations, business, and future prospects were materially false or misleading, lacking a reasonable basis at all relevant times.
Once the truth became known, Acadia Healthcare’s stock price dropped sharply, resulting in significant losses for investors.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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