Acadia Healthcare Company Inc. (NASDAQ: ACHC)

This lawsuit is for anyone who acquired securities in Acadia Healthcare Company Inc. (NASDAQ: ACHC) from February 28, 2020 through September 26, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company complied with applicable laws but then by falsely billing insurance companies in violation of the False Claims Act.

On September 27, 2024, news outlets reported that Acadia agreed to pay $16.6 million to resolve allegations that it violated the False Claims Act by billing federal healthcare programs for unnecessary or non-compliant inpatient behavioral health services. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Acadia Healthcare Company Inc. (NASDAQ: ACHC) from February 28, 2020 through September 26, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.