Block & Leviton Announces That Additional Class Action Cases Have Been Filed Against AAC Holdings, Inc. and Certain of Its Of...
September 21 2015 - 8:46PM
Block & Leviton LLP (www.blockesq.com), a securities litigation
firm representing investors nationwide, announces that there are
now multiple class action lawsuits pending against AAC Holdings,
Inc. (“AAC” or the “Company”) (NYSE:AAC) and three of its current
or former officers, two of whom were members of the Company’s board
of directors at the time of the alleged wrongdoing. These cases
each allege violations of the Securities Exchange Act of 1934. Both
cases are pending in the United States District Court for the
Middle District of Tennessee and have been brought on behalf of
investors who purchased or otherwise acquired AAC’s securities (the
“Class”) between October 2, 2014 and August 3, 2015 (the “Class
Period”). Block & Leviton LLP was the first firm to file
a complaint asserting shareholders’ rights against the Company.
The Complaints allege that, throughout the Class
Period, defendants made false and misleading statements and failed
to disclose material information, including with respect to legal
proceedings brought against subsidiaries of the Company and several
former and one current employees, including its President at the
time, Jerrod N. Menz. On August 3, 2015, the Company revealed that
second degree murder and dependent adult abuse indictments had been
brought in California. This news caused AAC’s share price to drop
substantially, harming investors. The drop in the days following
the disclosure of the indictments equaled approximately $153
million in market capitalization losses, or 39%, of AAC’s
value.
The lawsuits seek to recover damages on behalf
of all Class members. If you are a shareholder who purchased
securities of AAC during the Class Period, you have until October
23, 2015 to seek appointment as a lead plaintiff in this action.
This deadline is mandated by federal law and cannot be extended.
Your ability to share in any recovery is not, however, affected by
the decision to serve or seek appointment as lead
plaintiff. You may also retain counsel of your choice and you
need not take any action at this time to be a class member.
If you have questions about the lawsuit, possess
information relevant to this investigation, or seek information
about any of the foregoing, please contact attorney Steven P.
Harte, at (617) 398-5600 or email him at Steven@blockesq.com.
Block & Leviton is also experienced at representing
whistleblowers and encourages any insiders with information about
the allegations to contact them. Confidentiality is assured.
This notice may constitute attorney
advertising.
Contact:
BLOCK & LEVITON LLP
Steven P. Harte, Esq.
(617) 398-5600
Steven@blockesq.com
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