Levi & Korsinsky notifies investors that it has commenced an investigation into Acadia Healthcare Company, Inc. (NASDAQ: ACHC) concerning potential violations of the federal securities laws.
The New York Times published a report on September 1, 2024, entitled "How a Leading Chain of Psychiatric Hospitals Traps Patients." The article stated, "Acadia Healthcare is one of America's largest chains of psychiatric hospitals. Since the pandemic exacerbated a national mental health crisis, the company's revenue has soared. [. . .] But a New York Times investigation found that some of that success was built on a disturbing practice: Acadia has lured patients into its facilities and held them against their will, even when detaining them was not medically necessary. In at least 12 of the 19 states where Acadia operates psychiatric hospitals, dozens of patients, employees and police officers have alerted the authorities that the company was detaining people in ways that violated the law, according to records reviewed by The Times. In some cases, judges have intervened to force Acadia to release patients." Following this news, Acadia Healthcare stock fell over 4% on September 3, 2024.
If you suffered a loss on your Acadia Healthcare Company, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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