Acadia Healthcare Investors Encouraged to Contact Faruqi & Faruqi Regarding Potential Securities Law Violations
Faruqi & Faruqi, LLP, a leading national securities law firm, is currently investigating potential claims against Acadia Healthcare Company, Inc. (ACHC). The investigation stems from allegations that Acadia Healthcare may have engaged in deceptive business practices, potentially violating federal securities laws.
The firm is specifically looking into claims that Acadia Healthcare:
* Employed a business model focused on detaining vulnerable individuals in its facilities, even when such detention was not medically necessary.
* Allowed for the abuse of patients while they were under their care.
* Deceived insurance providers into paying for extended patient stays that were not medically justified.
These allegations have resulted in significant financial losses for investors. On September 1, 2024, The New York Times published an article titled “How a Leading Chain of Psychiatric Hospitals Traps Patients.” This article brought to light the alleged practices of Acadia Healthcare, leading to a 4.5% drop in the company’s stock price on September 3, 2024.
Further investigation into these claims led to a current report filed by Acadia Healthcare with the U.S. Securities and Exchange Commission (SEC) on September 27, 2024. The report disclosed that Acadia Healthcare received a request for information from the United States Attorney’s Office for the Southern District of New York and a grand jury subpoena from the United States District Court for the Western District of Missouri. These inquiries relate to Acadia Healthcare’s admissions, length of stay, and billing practices. Following this disclosure, the stock price of Acadia Healthcare plummeted by 16.36% on September 27, 2024.
Investors with losses exceeding $100,000 are encouraged to contact Faruqi & Faruqi
If you are an investor who suffered losses exceeding $100,000 in Acadia Healthcare between February 28, 2020, and September 26, 2024, and you are interested in exploring your legal options, Faruqi & Faruqi encourages you to contact partner Josh Wilson directly. You can reach him at 877-247-4292 or 212-983-9330 (Ext. 1310).
Deadline to Seek Lead Plaintiff Role
Investors are reminded that the deadline to seek the role of lead plaintiff in a federal securities class action filed against Acadia Healthcare is December 16, 2024. The lead plaintiff is the investor with the largest financial interest in the case, who will represent the interests of the entire class.
About Faruqi & Faruqi, LLP
Faruqi & Faruqi, LLP is a leading national securities law firm with offices in New York, Pennsylvania, California, and Georgia. The firm has a proven track record of recovering hundreds of millions of dollars for investors since its founding in 1995. For more information, visit www.faruqilaw.com.