Posted On October 8, 2024 Securities
NOTICE: If you suffered Acadia Healthcare Company investment losses, contact the securities attorneys at Console & Associates to discuss your legal options. Submit a confidential Case Evaluation form here.
You may be eligible to join the Acadia Healthcare class action lawsuit if you’re an investor in Acadia Healthcare Company, Inc. (NASDAQ: ACHC), and recent revelations may have you concerned about your financial future. The sharp decline in ACHC stock and ongoing federal investigations have left many investors facing significant losses and seeking answers and solutions. You’re not alone, and our securities lawyers are here to help you navigate this challenging time. If you were misled by statements by Acadia Healthcare and suffered investment losses, complete our online form to learn your legal options.
On September 27, 2024, Acadia Healthcare announced it had received requests for information from the U.S. Attorney’s Office for the Southern District of New York and a grand jury subpoena from the U.S. District Court for the Western District of Missouri. These requests are focused on patient admissions, length of stay, and billing practices. The company also expects further inquiries from the U.S. Securities and Exchange Commission (SEC).
This follows Acadia’s $19.85 million settlement with the U.S. Justice Department over allegations of submitting false claims to Medicare and Medicaid between 2014 and 2017. Further investigations suggest these practices may still be in place, with the FBI and the Department of Health and Human Services currently probing Acadia’s more recent conduct. Allegations include keeping patients for longer than medically necessary and improper billing for services that were not provided.
These ongoing investigations and lawsuits have had a severe impact on Acadia’s stock. On September 27, 2024, shares of ACHC plunged by over 17% during morning trading. Many investors are now facing substantial losses.
In addition, the company has been accused of staffing shortages, inadequate patient care, and improperly billing government programs like Medicare and Medicaid. Reports also highlight ongoing concerns about patient safety, with incidents of suicides and assaults due to poor supervision and care at Acadia Healthcare facilities.
The securities lawyers of Console & Associates, P.C. are actively investigating potential violations of federal securities laws by Acadia Healthcare. If you invested in Acadia based on false or misleading statements and suffered losses, you may be eligible to join a securities class action lawsuit.
The company is under scrutiny for allegedly inflating its financial performance by misrepresenting its compliance with federal healthcare regulations, which could have led to artificially inflated stock prices. Investors who were misled may now have a chance to recover their losses through legal action.
As an investor in Acadia Healthcare, you trusted the company to uphold ethical standards. If that trust was broken due to fraudulent practices or misleading statements, you may have a claim.
Join the growing number of investors taking a stand against financial misconduct. Complete our online form today to learn more about how you can participate in the Acadia Healthcare class action lawsuit and take the first step toward recovering your investment losses.
You invested in Acadia Healthcare with trust and confidence. If that trust was violated through alleged misconduct, you have the right to seek justice.
Don’t wait. Contact us today to explore your legal options and protect your investments.
NOTICE: If you suffered Acadia Healthcare Company investment losses, contact the securities attorneys at Console & Associates to discuss your legal options. Submit a confidential Case Evaluation form here.
