| COMPANY |
Acadia Healthcare Company, Inc. |
| COURT |
United States District Court for the Middle District of Tennessee |
| CASE NUMBER |
18-cv-00988 |
| JUDGE |
The Hon. William L. Campbell, Jr |
| CLASS PERIOD |
April 30, 2014 - November 15, 2018 |
| SECURITY TYPE |
All Securities |
Case Background:
On March 14, 2018, the initial complaint in this securities class action was filed against Acadia Healthcare Company (“Acadia” or the “Company”), and certain of Acadia’s directors, officers and underwriters, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit brought on behalf of purchasers of Acadia publicly traded securities between April 30, 2014 and November 15, 2018, (the “Class Period”) both dates inclusive.
The complaint alleges that throughout and before the Class Period, Defendants made numerous materially false and misleading statements and omissions to investors regarding Acadia’s business and operations, including by falsely stating that the quality of its U.K. operations gave the Company a “competitive strength,” which would drive future growth and profitability, and by issuing false and misleading guidance regarding the Company’s actual and projected 2017 revenue, earnings before interest, taxes, depreciation and amortization and earnings per share.
Current Status of Case:
On April 1, 2019, Lead Plaintiff filed an amended complaint (the “Amended Complaint”). Defendants filed their Motion to Dismiss the Amended Complaint which was denied on January 20, 2021. On September 30, 2022, the Court certified the Class which includes all investors who purchased Acadia securities between April 30, 2014 and November 15, 2018. This action is in the discovery phase and is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com.