Kahn Swick & Foti Urges Acadia Healthcare Investors to Act Before Class Action Deadline

Investors Alert: Acadia Healthcare Class Action Update

In a recent announcement by Kahn Swick & Foti, LLC (KSF), former Louisiana Attorney General Charles C. Foti, Jr. is encouraging investors in Acadia Healthcare Company, Inc. (NasdaqGS: ACHC) to take swift action regarding potential losses. Those who experienced financial setbacks exceeding $100,000 by purchasing securities during the specified class period—between February 28, 2020, and October 18, 2024—should be aware of a crucial deadline approaching on December 16, 2024, to apply to serve as lead plaintiff in an ongoing class action lawsuit.

Background of the Case

The lawsuit against Acadia Healthcare and certain executives revolves around allegations of non-disclosure of important information that could have significantly impacted investor decisions. Reports have surfaced indicating that the company received requests for information from the U.S. Attorney's Office and a grand jury subpoena, which relate to aspects of its admission processes, lengths of stay for patients, and billing practices. These developments have triggered several sharp declines in stock prices as concerns about transparency and regulatory compliance grow among shareholders.

On September 27, 2024, upon announcement of these inquiries, Acadia’s stock plummeted by $12.38, marking a 16.36% drop and closing at $63.28. Further compounding the negative outlook, a New York Times article published on October 18 revealed investigations by the Veterans Department into potential insurance fraud linked to Acadia's billing practices, which resulted in an additional drop of $7.29 per share (12.28%), closing at $52.03 the same day. These incidents illustrate a concerning trend for Acadia’s investors, warranting urgent action for those potentially affected.

How to Take Action

Investors who believe they may have a claim or are interested in understanding their rights are encouraged to reach out to KSF Managing Partner Lewis Kahn. Those interested can contact him toll-free at 1-877-515-1850 or via email at email protected]. Furthermore, information is available on KSF’s website, [ksfcounsel.com, to provide further insight regarding the process and implications of joining the lawsuit.

To serve as a lead plaintiff, it is critical to submit a petition to the Court by the stipulated deadline. This position enables an investor to take charge of the case and represents the collective interests of all shareholders adversely affected by Acadia’s potentially deceptive practices.

About Kahn Swick & Foti, LLC

Kahn Swick & Foti has built its reputation as a premier law firm specializing in securities litigation across the United States. With offices in major cities including New York, Chicago, and Los Angeles, KSF is dedicated to assisting investors recover losses due to corporate fraud or misrepresentation. Their continued efforts to hold companies accountable uphold their commitment to investor rights and transparency in the financial markets.

Conclusion

As the deadline looms, affected investors are strongly urged to act promptly. The unfolding events surrounding Acadia Healthcare underline the importance of vigilance and proactive legal engagement for those with substantial financial interests. Stay informed and consider the implications this lawsuit may have on your investment as the landscape of healthcare continues to evolve under scrutiny.

For more detailed information on KSF or to learn more about your rights as an investor in the context of this class action, visit ksfcounsel.com.