Faruqi & Faruqi Reminds Agenus Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of the December 16, 2024 - ACHC

Core Viewpoint - Acadia Healthcare is facing legal scrutiny due to allegations of violating federal securities laws, which has led to significant stock price declines and a class action lawsuit against the company [3][4][5]. Group 1: Legal Issues and Allegations - Acadia Healthcare is being investigated for claims that it held patients against their will in its facilities, even when not medically necessary, and subjected many patients to abuse [3]. - The company allegedly deceived insurance providers into covering unnecessary stays, leading to materially false and misleading statements about its business operations [3]. - A New York Times article highlighted that Acadia's practices have raised legal concerns in at least 12 states, with reports of unlawful detentions [4]. Group 2: Stock Performance and Market Reaction - Following the publication of the New York Times article, Acadia Healthcare's stock price fell by 4.5% on September 3, 2024 [4]. - On September 27, 2024, after Acadia disclosed a grand jury subpoena related to its admissions and billing practices, the stock price dropped by 16.36% [5]. Group 3: Class Action and Investor Communication - Faruqi & Faruqi, LLP is encouraging investors who suffered losses exceeding $100,000 in Acadia Healthcare to discuss their legal options, with a deadline for lead plaintiff applications set for December 16, 2024 [1]. - The firm is also seeking information from whistleblowers and former employees regarding Acadia's conduct [6].