ACHC INVESTOR NEWS: Acadia Healthcare Investors are Notified that BFA Law has Sued the Company for Securities Fraud and are Urged to Contact the Firm (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, captioned Dyar v. Acadia Healthcare Company, Inc., No. 3:24-cv-01300 [2]. - Investors have until December 16, 2024, to request to be appointed to lead the case [2]. - The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. Group 2: Allegations Against Acadia - Acadia is one of the largest for-profit chains of psychiatric hospitals in the U.S. [3]. - The complaint alleges that Acadia misrepresented its financial results, claiming they were driven by insurance fraud and holding vulnerable individuals against their will [3]. - A New York Times investigation highlighted that Acadia lured patients and detained them without medical necessity, contributing to a decline in stock price [4]. Group 3: Stock Price Impact - Following the New York Times article on September 1, 2024, Acadia's stock fell by $3.72 per share, or 4.5%, closing at $78.21 on September 3, 2024 [4]. - On September 27, 2024, Acadia disclosed receiving requests for information from the U.S. Attorney's Office and a grand jury subpoena, leading to a 16% decline in stock price from $75.66 to $63.28 per share [5]. - An October 18, 2024, article reported an investigation by the Veterans Affairs Department into potential insurance fraud, causing a 12% drop in stock price from $59.32 to $52.03 per share [6].