#USA #New York #Class Action #Acadia Healthcare #Pomerantz Law Firm

Pomerantz Law Firm Files Class Action Against Acadia Healthcare

On November 25, 2024, Pomerantz LLP announced the initiation of a class action lawsuit against Acadia Healthcare Company, Inc. (NASDAQ: ACHC). This legal action has arisen from serious allegations that Acadia and certain individuals within the company have engaged in securities fraud and other illegal business practices.

Affected investors are encouraged to connect with Pomerantz's representative, Danielle Peyton, via email or phone, providing their contact details and information concerning their shares of Acadia's securities. The deadline to request appointment as Lead Plaintiff for this class is December 16, 2024. Full details, including the complaint, can be accessed through Pomerantz’s official website.

The lawsuit's backdrop includes a September 1, 2024, article by The New York Times, which raised alarming concerns regarding Acadia’s practices in psychiatric facilities. The report included statements from patients, employees, and law enforcement officials, alleging unlawful detentions that occurred even when it was unnecessary from a medical standpoint.

This report triggered a decline in Acadia's stock, which saw a drop of $3.72 per share or 4.54%, on September 3, closing at $78.21. On September 27, following a further SEC disclosure about subpoenas from the U.S. Attorney's Office regarding Acadia’s admissions and billing practices, the stock plummeted by $12.38, closing at $63.28—indicating a significant investor anxiety over the company's dealings.

Pomerantz LLP has a rich history of advocating for victims of corporate misconduct, boasting over 85 years' experience in corporate, securities, and antitrust class litigation. Founded by Abraham L. Pomerantz, the firm has a strong legacy and is recognized for its commitment to securing justice for shareholders.

Potential class members are urged to act quickly if they think they may qualify, and are encouraged to join the legal proceedings to exert pressure for accountability. Pomerantz emphasizes their effectiveness in addressing securities fraud, having successfully recovered billions in damages over the years. Interested parties can learn more about becoming involved in this class action suit by visiting www.pomerantzlaw.com or reaching out directly to the firm.

In an era where corporate ethics are increasingly scrutinized, this development underscores the ongoing accountability mechanisms in place for public companies. As the case unfolds, it will serve as a critical reference point for both investors and corporate entities regarding the implications of alleged business improprieties. Investors are advised to remain watchful for updates as the situation progresses and further information becomes available.