NASDAQ: ACHC Investor Notice: Update in Lawsuit against Acadia Healthcare Company Inc announced by Shareholders Foundation
SAN DIEGO, CA / ACCESSWIRE / September 23, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Acadia Healthcare Company Inc (ACHC) shares.
Investors, who purchased shares of Acadia Healthcare Company Inc (ACHC) in April 2014 or earlier and continue to hold Acadia Healthcare Company Inc (ACHC) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On October 24, 2017, Acadia Healthcare Company announced its financial results for the third quarter of 2017. The Company revealed a drastic shortfall in EBITDA for its U.K. facilities, purportedly resulting from "lower census and higher operating costs," and lowered its financial guidance for 2017, including lowering its EPS guidance as much as $0.24 per share.
On October 2, 2018, a lawsuit was filed against Acadia Healthcare Company Inc (ACHC) over alleged violations of Federal Securities Laws. The plaintiff alleges that the defendants made materially false and misleading statements regarding Acadia's business and operations, including by falsely stating that the quality of Acadia's U.K. operations gave it a "competitive strength" that would drive future growth and profitability, and by issuing false and misleading guidance regarding the Company's actual and projected 2017 revenue, earnings before interest, taxes, depreciation and amortization ("EBITDA") and earnings per share ("EPS"), and that as a result of defendants' false statements, Acadia stock traded at artificially inflated prices of more than $52 per share between February 23, 2017 and October 24, 2017, and that while Acadia stock was trading at these allegedly artificially inflated prices, the Company's CEO and President sold 706,000 shares of their Acadia stock for proceeds of more than $35 million. On April 1, 2019, a consolidated complaint was filed, and defendants filed their motion to dismiss the complaint on May 31, 2019.
Those who purchased Acadia Healthcare Company Inc (ACHC) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.
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