Kaskela Law LLC is investigating Acadia Healthcare Company, Inc. (NASDAQ: ACHC) (“Acadia” or the “Company”) on behalf of the long-term ACHC stockholders.
Recently an amended shareholder class action complaint was filed against Acadia on behalf of investors who purchased shares of the Company’s common stock between April 30, 2014 and November 15, 2018 (the “Class Period”).
According to the amended complaint, during the Class Period “defendants engaged in a scheme to defraud and made numerous materially false and misleading statements and omissions to investors regarding Acadia’s business and operations,” including by falsely stating that: (i) offering quality care was of fundamental importance to Acadia’s business model, and that its facilities provided high-quality care that would drive Acadia’s success; (ii) Acadia adequately staffed its facilities to ensure its ability to provide appropriate care to patients; (iii) Acadia’s facilities were in compliance with relevant regulatory requirements; and (iv) Acadia’s U.K. operations would achieve substantial revenue and earnings growth in the face of nursing shortages and negative media reports about the Company’s operations.
The investigation seeks to determine whether the members of Acadia’s board of directors breached their fiduciary duties to the Company and its stockholders in connection with the above alleged misconduct.
Current Acadia stockholders who purchased or acquired shares of the Company’s common stock prior to November 15, 2018 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585, or by completing the information form on this page, for additional information about this investigation and their legal rights and options.