ACHC LEGAL UPDATE: BFA Law has Filed a Lawsuit Against Acadia Healthcare for Securities Fraud - Contact the Firm before Court Deadline (Nasdaq:ACHC)

Core Viewpoint - A lawsuit has been filed against Acadia Healthcare Company, Inc. and certain senior executives, alleging misrepresentation of financial results related to insurance fraud and improper patient detainment practices [1][2][3]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Middle District of Tennessee, with claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. - Investors have until December 16, 2024, to request to lead the case [2]. Group 2: Allegations Against Acadia - Acadia is one of the largest for-profit psychiatric hospital chains in the U.S., accused of holding patients against their will and misrepresenting financial results [3]. - A New York Times investigation revealed that Acadia's success was partly due to these disturbing practices, leading to a stock price drop of $3.72 per share (4.5%) on September 3, 2024 [4]. Group 3: Regulatory Scrutiny - On September 27, 2024, Acadia disclosed receiving requests for information from the U.S. Attorney's Office and a grand jury subpoena, resulting in a 16% decline in stock price from $75.66 to $63.28 per share [5]. - An October 18, 2024, article indicated that the Veterans Affairs Department is investigating Acadia for potential insurance fraud, causing a further 12% decline in stock price from $59.32 to $52.03 per share [6].