NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 16, 2024 to file lead plaintiff applications in a securities class action lawsuit against Acadia Healthcare Company, Inc. (NasdaqGS: ACHC), if they purchased the Company’s securities between February 28, 2020 and September 26, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Middle District of Tennessee.
What You May Do
If you purchased securities of Acadia and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-achc/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 16, 2024.
About the Lawsuit
Acadia and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On September 27, 2024, the Company disclosed the receipt of a voluntary request for information from the U. S. 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 “related to its admissions, length of stay and billing practices,” further providing that it “anticipates receiving similar document requests from the U.S. Securities and Exchange Commission and may receive additional document requests from other government agencies.”
On this news, the price of Acadia’s shares fell by $12.38 per share, or 16.36%, to close at $63.28 on September 27, 2024.
The case is Kachrodia v. Acadia Healthcare Company, Inc., No. 24-cv-01238.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
