Acadia Healthcare Company, Inc.
Case Overview
Status: | Status: Investigating |
Company Name: | Company Name: Acadia Healthcare Company, Inc. |
Ticker: | Ticker: ACHC |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
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.
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.
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.