NEW YORK, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Acadia Healthcare Company, Inc. (“Acadia Healthcare”, or the “Company”) (NASDAQ: ACHC) for violations of the federal securities laws on behalf of investors who purchased or acquired Acadia Healthcare common stock between February 28, 2020 and October 18, 2024, inclusive (the “Class Period”).
On October 21 2024, a complaint was filed against the Company and certain of its current and former officers, alleging that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Acadia Healthcare’s business model centered on holding vulnerable people against their will in its facilities, including in cases where it was not medically necessary to do so; (2) while in Acadia Healthcare facilities, many patients were subjected to abuse; (3) Acadia Healthcare deceived insurance providers into paying for patients to stay in its facilities when it was not medically necessary; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
When investors learned the truth, Acadia Healthcare’s common stock declined precipitously, injuring investors.
If you suffered a loss of more than $200,000 in Acadia Healthcare’s securities, and wish to participate, or learn more, click here, or please contact our attorneys at (914) 733-7256 or via email to Andrea Farah (afarah@lowey.com) or Vincent R. Cappucci Jr. (vcappucci@lowey.com).
Any investor who wishes to serve as Lead Plaintiff must act before December 16, 2024.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg P.C.
