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

Core Viewpoint - Acadia Healthcare is facing legal scrutiny due to allegations of violating federal securities laws, which has led to a significant decline in its stock price and potential claims from investors [4][6][7]. Group 1: Legal Allegations - The complaint against Acadia Healthcare alleges that the company and its executives made false or misleading statements regarding their business practices, including holding patients against their will and subjecting them to abuse [4]. - The company is accused of deceiving insurance providers into paying for unnecessary stays in its facilities, which has resulted in materially false and misleading statements about its operations and prospects [4]. Group 2: Stock Performance - Following a New York Times article that highlighted the company's controversial practices, Acadia Healthcare's stock price fell by 4.5% on September 3, 2024 [6]. - After the company disclosed a grand jury subpoena related to its admissions and billing practices, the stock price dropped by 16.36% on September 27, 2024 [7]. Group 3: Investor Actions - Faruqi & Faruqi, LLP is encouraging investors who suffered losses exceeding $100,000 in Acadia Healthcare to discuss their legal options, with a deadline of December 16, 2024, to seek the role of lead plaintiff in a federal securities class action [2][8]. - The firm is also inviting anyone with information regarding Acadia Healthcare's conduct, including whistleblowers and former employees, to come forward [9].