Core Viewpoint - Acadia Healthcare Company, Inc. is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims of misleading practices and abuse within its facilities during the specified class period [1][4]. Group 1: Allegations and Impact - The lawsuit alleges that Acadia's business model involved holding patients against their will without medical necessity, leading to abuse within its facilities [4]. - A New York Times article published on September 1, 2024, highlighted these practices, resulting in a stock price drop of over 4% [5]. - Following a disclosure on September 27, 2024, regarding a grand jury subpoena and requests for information from the U.S. Attorney's Office, Acadia's stock price fell more than 16% [6]. Group 2: Legal Process and Representation - Investors who purchased Acadia's publicly traded securities during the class period can seek to be appointed as lead plaintiff in the lawsuit, representing the interests of the class [7]. - The lead plaintiff will have the authority to select a law firm for litigation, but participation as lead plaintiff does not affect the ability to share in any potential recovery [7]. Group 3: Company Background - Acadia Healthcare provides behavioral healthcare services and has been implicated in serious allegations regarding its treatment of patients [3]. - Robbins Geller Rudman & Dowd LLP, the law firm handling the case, is recognized for its significant recoveries in securities fraud cases, having secured $6.6 billion for investors in related class action cases [8].
ACHC INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that Acadia Healthcare Company, Inc. Investors with Substantial Losses Have Opportunity to Lead Securities Class Action Lawsuit