PR Newswire
LOS ANGELES, Sept. 16, 2024
LOS ANGELES, Sept. 16, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Acadia Healthcare Company, Inc. ("Acadia" or "the Company") (NASDAQ: ACHC) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Acadia is the subject of a New York Timesreport published on September 1, 2024, titled: "How a Leading Chain of Psychiatric Hospitals Traps Patients." According to the article, "Acadia Healthcare is one of America's largest chains of psychiatric hospitals. Since the pandemic exacerbated a national mental health crisis, the company's revenue has soared. [. . .] But a New York 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. 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." Based on this news, shares of Acadia fell by 4.5% on September 3, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
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SOURCE The Schall Law Firm
