Kirby McInerney LLP Announces Investigation of Shareholder Claims Against Acadia Healthcare Company, Inc. (ACHC)

BY dprimeramano
September 16, 2024
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NEW YORK-The law firm of Kirby McInerney LLP is investigating potential claims against Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) (NASDAQ: ACHC). The investigation concerns whether Acadia and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.

[Click here to learn more about the investigation]

On September 1, 2024, The New York Times published a report on Acadia, one of the largest chains of psychiatric hospitals in the nation. The article stated that a New York Times investigation found that “Acadia has lured patients into its facilities and held them against their will, even when detaining them was not medically necessary. In at least 12 of the 19 states where Acadia operates psychiatric hospitals, dozens of patients, employees and police officers have alerted the authorities that the company was detaining people in ways that violated the law, according to records reviewed by The Times. In some cases, judges have intervened to force Acadia to release patients.”

Following this news, the price of Acadia shares declined by $3.72 per share from $81.93 per share on September 1, 2024, to close at $78.21 on September 3, 2024.

If you purchased or otherwise acquired Acadia securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.