NEW YORK, March 26, 2018 /PRNewswire/ -- Bernstein
Liebhard LLP today announced that a class action has been filed in
the United States District Court
for the Middle District of Tennessee on behalf of a class (the "Class")
consisting of all persons or entities who purchased the securities
of Acadia Healthcare Company, Inc. ("Acadia" or the "Company")
(NASDAQ: ACHC) during the period between February 23, 2017 and October 24, 2017 (the "Class Period"), including
in connection with an August 22, 2017
public offering (the "Offering"). The complaint alleges that
Defendants violated Sections 10(b) and 20(a) of the Securities
Exchange Act of 1934.
Acadia is a healthcare company that operates inpatient
psychiatric facilities, residential treatment centers, group homes,
substance abuse facilities, and facilities providing outpatient
behavioral healthcare services throughout the United States, the United Kingdom ("U.K.") and Puerto Rico.
The complaint alleges that Defendants made materially false and
misleading statements regarding Acadia's business and
operations, including by claiming 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 financial results.
On October 24, 2017, Acadia
announced its financial results for the third quarter of 2017,
revealing a substantial shortfall in EBITDA for its U.K.
facilities, purportedly resulting from "lower census and higher
operating costs," and lower financial guidance for 2017. As a
result, Acadia's stock price fell 26%.
Plaintiffs seek to recover damages on behalf of all Class
members who invested in Acadia securities during the Class Period,
including in connection with the Offering. If you invested in
Acadia securities as described above, and lost money on the
transactions, you may wish to join in this action to serve as lead
plaintiff. In order to do so, you must meet certain
requirements set forth in the applicable law and file appropriate
papers no later than May 14,
2018.
A "lead plaintiff" is a representative party that acts on behalf
of other class members in directing the litigation. In order
to be appointed lead plaintiff, the court must determine that the
class member's claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members
may together serve as lead plaintiff. Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. You may retain Bernstein
Liebhard LLP, or other counsel of your choice, to serve as your
counsel in this action.
If you are interested in discussing your rights as an Acadia
investor and/or have information relating to the matter, please
contact Joseph R. Seidman, Jr. at
(877) 779-1414 or seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities,
consumer and shareholder rights cases and recovered over
$3.5 billion for its
clients. The Firm has been named to the National Law Journal's
"Plaintiffs' Hot List" thirteen times.
You can obtain a copy of the complaint from the clerk of the
court for the United States
District Court for the Middle District of Tennessee.
Bernstein Liebhard LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414
www.bernlieb.com
ATTORNEY ADVERTISING. © 2018 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
seidman@bernlieb.com
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