Berman Tabacco announces that a securities class action has been filed in the Middle District of Tennessee against Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) (NASDAQ: ACHC) and certain current and former officers on behalf of purchasers of Acadia securities between February 28, 2020 and September 26, 2024, inclusive (the “Class Period”). The case is captioned Kachrodia v. Acadia Healthcare Company, Inc., et al., Case No. 24-CV-1238 (M.D. Tenn.), and alleges violations of the Securities Exchange Act of 1934.
Discuss Your Legal Rights and Options
If you wish to serve as Lead Plaintiff for the Class, you must file a motion to serve as Lead Plaintiff with the Court no later than December 16, 2024. Any member of the proposed class may move the Court to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed class.
If you purchased shares of Acadia common stock during the Class Period and sustained significant losses, and would like to serve as Lead Plaintiff, please fill out this form or contact Jay Eng, Esq. at 800-516-9926.
About the Lawsuit
The complaint alleges, among other things, that “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.”
What is a Lead Plaintiff
A Lead Plaintiff is appointed by the Court to represents the interests of the Class in the lawsuit. This includes selecting the law firm prosecuting the case. Courts typically appoint the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A class member’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
No Responsibility for Attorney’s Fees or Expenses
Berman Tabacco represents individuals and entities in class actions on a contingency fee basis, meaning we advance all attorneys’ fees and expenses in the litigation. If the case is successful, the firm will ask the court to award the firm attorneys’ fees and expenses from any settlement fund. If we are not successful, you will not be responsible for attorneys’ fees or expenses.
About Berman Tabacco
Since 1982, our firm has prosecuted hundreds of securities and antitrust complex cases. The firm and its attorneys have been recognized for their work on behalf of plaintiffs, including by Chambers USA, Benchmark Litigation, which has ranked the firm as Highly Recommended and a Top Plaintiffs Firm, The Legal 500, U.S. News & World Report-Best Lawyers, The Daily Journal, Lawdragon, Who’s Who Legal, and Super Lawyers.
The firm has offices in Boston, Massachusetts and San Francisco, California.
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Contact:
Berman Tabacco
Jay Eng, Esq.
One Liberty Square
Boston, Massachusetts
(800) 516-9926
Email: law@bermantabacco.com