NEW YORK, March 20, 2018 /PRNewswire/ -- Kaplan Fox
& Kilsheimer LLP (www.kaplanfox.com) is investigating claims on
behalf of investors of Acadia Healthcare Company, Inc. ("Acadia
Healthcare" or the "Company") (NASDAQ: ACHC).
A class action complaint has been filed in the United States District Court for the
Middle District of Tennessee on
behalf of purchasers of Acadia Healthcare's publicly traded
securities between February 23, 2017
and October 24, 2017, inclusive (the
"Class") alleging violations of the Securities Exchange Act of 1934
and the Securities Act of 1933.
According to the complaint, Acadia Healthcare materially misled
the investing public, which had the effect of inflating the prices
of Acadia Healthcare's securities. Beginning on February 23, 2017, Acadia Healthcare represented
in its public filings and press releases that it was "the leading
independent provider of mental health services in the U.K." and
that "[f]avorable industry and legislative trends" gave the company
a "competitive strength," which would drive future growth and
profitability.
As alleged in the complaint, on October
24, 2017, Acadia Healthcare announced its financial results
for the third quarter 2017, which revealed a drastic shortfall in
EBITA for its U.K. facilities, purportedly resulting from "lower
census and higher operating costs." Acadia Healthcare also
lowered its financial guidance for 2017, including lowering its EPS
guidance as much as $0.24 per
share.
Following these revelations, which the complaint alleges began
to uncover the relevant truth that had previously been concealed
from the market, Acadia Healthcare's stock price collapsed,
plummeting 26% from a closing price of $44.12 per share on October 24, 2017 to close at $32.68 per share on October 25, 2017.
The complaint alleges that throughout the Class Period,
defendants made materially false and/or misleading statements
and/or failed to disclose that (1) the quality of Acadia
Healthcare's U.K. operations did not give the Company a
"competitive strength" which would drive future growth and
profitability, and (2) defendants lacked a reasonable basis for
their positive statements about the Company's business and
financial prospects during the Class Period, including their
guidance issued and reaffirmed throughout the Class Period.
If you are a member of the proposed Class, you may move the
court no later than May 14, 2018 to
serve as a lead plaintiff for the purported class. You need
not seek to become a lead plaintiff in order to share in any
possible recovery. If you would like to discuss the complaint
or our investigation, please contact us by emailing
pmayer@kaplanfox.com or by calling 800-290-1952.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP,
with offices in New York,
San Francisco, Los Angeles, Chicago and New
Jersey, has many years of experience in prosecuting investor
class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit
our website at www.kaplanfox.com. If you have any questions
about this Notice, the action, your rights, or your interests,
please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: dhall@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California
94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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SOURCE Kaplan Fox &
Kilsheimer LLP