Robbins Arroyo LLP is Investigating the Officers and Directors of AAC Holdings, Inc. (AAC) on Behalf of Shareholders
September 13 2016 - 8:48PM
Business Wire
Shareholder rights law firm Robbins Arroyo LLP is investigating
whether certain officers and directors of AAC Holdings, Inc. (NYSE:
AAC) breached their fiduciary duties to the company and its
shareholders by intentionally deceiving investors about a criminal
investigation that could adversely affect the company's inherent
value. AAC Holdings provides inpatient substance abuse treatment
services for individuals with drug and alcohol addiction in the
U.S.
View this press release on the law firm's Shareholder Rights
Blog:https://www.robbinsarroyo.com/shareholders-rights-blog/aac-holdings-inc-sept-2016/
AAC Holdings is Accused of Deceiving Investors About a
Criminal Investigation
On July 1, 2016, the U.S. District Court Middle District of
Tennessee, Nashville Division denied a motion to dismiss a
securities fraud class action filed against AAC and certain
executives. According to the complaint, AAC deceived investors
about an active criminal investigation—of which the company was
aware of as early as 2013 and prior to its initial public
offering—by the California Department of Justice, which
materialized into an indictment against AAC for, among other
things, second-degree murder of an AAC patient. The complaint
alleges that AAC deliberately disregarded the federal securities
laws by concealing the criminal investigation at the time of its
initial public offering despite being aware of the facts
surrounding the investigation.
AAC Holdings Shareholders Have Legal Options
Concerned shareholders who would like more information about
their rights and potential remedies can contact attorney Darnell R.
Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the
shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual and
institutional investors in shareholder derivative and securities
class action lawsuits, and has helped its clients realize more than
$1 billion of value for themselves and the companies in which they
have invested.
Attorney Advertising. Past results do not guarantee a similar
outcome.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160913006731/en/
Robbins Arroyo LLPDarnell R. Donahue(619) 525-3990 or Toll Free
(800) 350-6003DDonahue@robbinsarroyo.comwww.robbinsarroyo.com
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