INTRODUCTION TO THE ACADIA HEALTHCARE CLASS ACTION LAWSUIT
Call Timothy L. Miles today for a free case evaluation in the Acadia Healthcare class action lawsuit
The Acadia Healthcare class action lawsuit seeks to represent purchasers or acquirers of Acadia Healthcare Company, Inc. (NASDAQ: ACHC) publicly traded securities between February 28, 2020, and September 26, 2024, inclusive (the “Class Period”). Captioned Kachrodia v. Acadia Healthcare Company, Inc., No. 24-cv-01238 (M.D. Tenn.), the Acadia Healthcare class action lawsuit charges Acadia Healthcare and certain of Acadia Healthcare’s top current and former executives with violations of the Securities Exchange Act of 1934.
If you have suffered losses in Acadia Healthcare stock and are interested in becoming the lead plaintiff in the Acadia Healthcare class actionlawsuit or have any inquiries regarding your rights as a shareholder, please reach out to Acadia Healthcare Stock Loss Lawyer Timothy L. Miles at no cost. You can contact him by calling 855/846-6529, sending an e-mail to [email protected], or filling out a contact form.
allegations in the Acadia Healthcare class action lawsuit
Acadia Healthcare provides behavioral healthcare services. The Acadia Healthcare class actionlawsuit can be summarized as follows: Fase and Misleading Statements
The defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Acadia Healthcare’s business model centered on holding vulnerable people against their will in Acadia Healthcare’s facilities, including in cases where it was not medically necessary to do so; (ii) while in Acadia Healthcare facilities, many patients were subjected to abuse; and (iii) Acadia Healthcare deceived insurance providers into paying for patients to stay in Acadia Healthcare’s facilities when it was not medically necessary.
New York Times Investigation: The Truth Begins to Emerge
On September 1, 2024, The New York Times published an article entitled “How a Leading Chain of Psychiatric Hospitals Traps Patients,” which revealed that The New York Times’s “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.” On this news, the price of Acadia Healthcare stock fell more than 4%, according to the complaint.
Federal Investigations: The Truth Emerges
On September 27, 2024, Acadia Healthcare revealed that “[o]n September 24, 2024, Acadia Healthcare . . . received a voluntary request for information from the United States Attorney’s Office for the Southern District of New York as well as a grand jury subpoena from the United States District Court for the Western District of Missouri (W.D.Mo.) related to its admissions, length of stay and billing practices,” further disclosing that “Acadia anticipates receiving similar document requests from the U.S. Securities and Exchange Commission and may receive additional document requests from other government agencies.”
Stock Plummets
On this news, the price of Acadia Healthcare stock fell more than 16%, according to the Acadia Healthcare class action lawsuit.
THE LEAD PLAINTIFF DEADLINE
Lead plaintiff motions for the Acadia Healthcare class action lawsuit must be filed with the court no later than December 16, 2024. When a securities class action is filed such as the Acadia Healthcare class actionlawsuit:
Anyone who wants to be lead plaintiff on behalf of the class must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.
You Have Two Choices If You Receive a Notice in the Acadia Healthcare Class Action Lawsuit
First, read the notice very carefully. You have two choices.
First, you can do nothing and remain a member of the class represented by lead counsel.
Second, if you believe you have a large enough loss to justify it, you can opt out of the Acadia Healthcare class actionlawsuit and file your own separate lawsuit.
Note, that if you opt-out, you will not be able to participate in any settlement or recovery obtained in the Acadia Healthcare class actionlawsuit.
The Lead Plaintiff Process in the Acadia Healthcare Class Action Lawsuit
If you suffered losses in Acadia Healthcare stock, call today for a free case evaluation in the Acadia Healthcare class action lawsuit
The Private Securities Litigation Reform Act of 1995 (PSLRA) permits any investor who purchased and suffered losses in Acadia Healthcare stock to seek appointment as lead plaintiff in the Acadia Healthcare class actionlawsuit.
A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit.
Having a voice in decision-making processes regarding the settlement.
No financial risk, as lead counsel covers all costs and expenses and are paid only if they secure a settlement or judgment recovery for the class
Potentially enjoying long-term benefits from governance reform resulting from the litigation.
Eligibility Criteria for Lead Plaintiff Appointment in the Acadia Healthcare Lawsuit
To be eligible for appointment as the lead plaintiff in the Acadia Healthcare class action lawsuit, an investor must meet the following criteria:
Securities Acquisition: The investor must have purchased Acadia Healthcare Company, Inc. (NASDAQ: ACHC) publicly traded securities between February 28, 2020, and September 26, 2024, inclusive.
Financial Losses: The investor must have suffered financial losses as a direct result of the alleged securities fraud perpetrated by Acadia Healthcare and its executives.
Typicality and Adequacy: The investor's legal claims must be typical of those asserted on behalf of the class, and they must demonstrate their ability to adequately represent the interests of the entire class through experience, resources, and the absence of conflicts of interest.
It is crucial to note that both domestic and international investors who meet these criteria are eligible to seek appointment as the lead plaintiff in the Acadia Healthcare class action lawsuitclass action lawsuit, as courts have consistently recognized the rights of non-U.S. investors in securities class actions.
Legal Requirements for Prevailing in the Acadia Healthcare Class Action Lawsuit
Instead, the attorney's fees and expenses are deducted from any settlement or judgment recovered on behalf of the class, typically as a court-approved percentage of the total recovery.
This arrangement ensures that investors can pursue their legal rights without bearing the financial burden of costly litigation, as the attorneys assume the risk and only receive compensation if they achieve a successful outcome for the class.
Can I serve as a lead plaintiff in the class action against Acadia Healthcare if I am serving as lead plaintiff in another securities fraud case?
Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which, absent court approval, is prohibited by the securities laws, unless the court exercises its discretion and makes an exception. Otherwise, if you suffered losses in Acadia Healthcare stock, you may move to be appointed lead plaintiff in the Acadia Healthcare class action lawsuit.
Can I serve as a lead plaintiff in the class action against Acadia Healthcare if I purchases shares outside of the class period?
No. Even if you suffered losses in Acadia Healthcare stock, if you purchased securities outside of the Class period, you will not be able to participate in the Acadia Healthcare class action lawsuit.
Can the court appoint more than one lead plaintiff in the Acadia Healthcare lawsuit?
Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs in the Acadia Healthcare lawsuit
Can I serve as lead plaintiff in the Acadia Healthcare class action lawsuit if I sold my shares?
Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the Acadia Healthcare class action lawsuit.
How do I know if I am a member of the class in the Acadia Healthcare class action lawsuit?
If you purchased shares during the class period and suffered losses in Acadia Healthcare stock, then you are most likely a member of the class in the Acadia Healthcareclass action lawsuit and may participate in the Acadia Healthcareclass action lawsuit since you suffered losses in Acadia Healthcare stock.
CONTACT Acadia Healthcare STOCK LOSS LAWYER TODAY TIMOTHY L. MILES TODAY ABOUT An Acadia Healthcare CLASS ACTION LAWSUIT
If you suffered losses in Acadia Healthcare stock, contact Acadia Healthcare stock loss lawyer Timothy L. Miles today for a free case evaluation about an Acadia Healthcare class action lawsuit. The call is free and so is the fee unless we will or settle you case so give us a call today. (855) 846–6529 or [email protected].
ACADIA HEALTHCARECLASS ACTION LAWSUIT ACADIA HEALTHCARE STOCK LOSS LAWYER TIMOTHY L. MILES 300 CENTERVIEW DR, UNIT 247 BRENTWOOD, TN 27027 855-846-6528