NEW YORK, NY - 
(NewMediaWire) - September 30, 2024 - – Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against Acadia Healthcare Company, Inc. (“Acadia” or the “Company”) (NASDAQ: ACHC).
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Acadia is one of the largest chains of psychiatric hospitals, with more than 250 facilities in the United States and Puerto Rico.
On September 1, 2024, The New York Times published an article entitled “How a Leading Chain of Psychiatric Hospitals Traps Patients.” The article reports that “Acadia has lured patients into its facilities and held them against their will, even when detaining them was not medically necessary.”
Then, on September 27, 2024, before the market opened the Company announced in a Form 8-K filing with the Securities and Exchange Commission that it “received a voluntary request for information from the United States Attorney’s Office for the Southern District of New York as well as a grand jury subpoena from the United States District Court for the Western District of Missouri related to its admissions, length of stay and billing practices.” The Company also “anticipates receiving similar document requests from the U.S. Securities and Exchange Commission and may receive additional document requests from other governmental agencies.”
Following this news, Acadia stock price fell $12.38 per share, over 16%, to close at $63.28 per share on September 27, 2024.
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If you have any questions about this investigation, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(212) 329-8571
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
