If you purchased Acadia securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs.

CHARLESTON, SC, UNITED STATES, November 1, 2024 /EINPresswire.com/ -- Poulin | Willey | Anastopoulo, a leading Plaintiffs class action firm announces the filing of a class action securities lawsuit in the United States District Court for the Middle District of Tennessee on behalf of persons or entities who purchased or otherwise acquired the securities of Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) (NASDAQ:ACHC) between February 28, 2020 and September 26, 2024, both dates inclusive (the “Class” and the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 16, 2024.

WHY: If you purchased Acadia securities during the Class Period you may be entitled to compensation without payment of any out-of-pocket fees or costs through a contingency arrangement. There is no cost or obligation to participate.

WHAT’S NEXT: To join the Acadia class action, call Stuart J. Guber, Esq. at 803-222-2222 or email Stuart J. Guber, Esq. at stuart.guber@poulinwilley.com. If you wish to serve as a lead plaintiff, you must move the Court no later than December 16, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

CASE DETAILS: According to the Complaint, Case 3:24-cv-01238, Acadia Healthcare Company, Inc. describes itself as a leading provider of behavioral healthcare services across the United States. With approximately 23,000 employees serving more than 75,000 patients daily, Acadia is the largest stand-alone behavioral healthcare company in the U.S. Acadia provides behavioral healthcare services to its patients in a variety of settings, including inpatient psychiatric hospitals, specialty treatment facilities, residential treatment centers, and outpatient clinics. This class action was filed against Acadia and four of its Officers.

The Complaint alleges that Defendants throughout the Class Period 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.

The truth was revealed on September 1, 2024, when The New York Times (the “Times”) published an article entitled “How a Leading Chain of Psychiatric Hospitals Traps Patients.” (the “Article”). The article noted that Acadia Healthcare is “one of America’s largest chains of psychiatric hospitals” and that “[s]ince the pandemic exacerbated a national mental health crisis, the company’s revenue has soared.” However, the Article stated that the Times’ “investigation found that some of that success was built on a disturbing practice: Acadia has lured patients into its facilities and held them against their will, even when detaining them was not medically necessary”, as well as other adverse information. On this news, the price of Acadia Healthcare stock fell by $12.38 per share, or 16.36%, to close at $63.28 on September 27, 2024.

As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and the other Class members have suffered significant losses and damages.

NO COST TO YOU: No Recovery, No Attorney’s Fees, No Costs. We represent you on a fully contingent basis. There are no fees or costs to you for your participation in the lawsuit if the lawsuit is unsuccessful.

WHY POULIN | WILLEY| ANASTOPOULO: The firm is one of the leading Plaintiff class action and mass tort firms in the country. Our Director of Shareholder Services and Securities Litigation, Stuart J. Guber, has over three decades of experience successfully representing defrauded shareholders including public pension plans, Taft-Hartley union pension plans and health & welfare funds, and individual investors in class action securities litigation and securities opt-out litigation.

In addition, firm partner Roy Willey IV has served as counsel in class actions and multi-district litigations across the country. He brings a creative, problem-solving-based approach to handling cases for consumers, investors and others harmed through no fault of their own. As a result, he has been repeatedly named among America’s Top 100 High Stakes Litigators, Best Lawyers, and Super Lawyers.

Poulin | Willey | Anastopoulo has offices in Florence, Charleston, Ladson, Columbia, Greenville, Lexington, Myrtle Beach, Rock Hill, and Hampton, South Carolina. Charlotte and Lumberton, North Carolina. Atlanta, Albany, Athens, Augusta, Columbus and Macon in Georgia. Visit RespectResults.com to learn more.

Stuart Guber
Poulin | Willey | Anastopoulo
+ +1 8032222222
stuart.guber@poulinwilley.com
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