A lawsuit was filed on behalf of investors in Acadia Healthcare Company Inc (NASDAQ: ACHC) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 10/15/2018 -- An investor, who purchased shares of Acadia Healthcare Company Inc (NASDAQ: ACHC), filed a lawsuit in the U.S. District Court for the Middle District of Tennessee over alleged Securities Laws violations by Acadia Healthcare Company Inc.
Investors who purchased shares of Acadia Healthcare Company Inc (NASDAQ: ACHC) have certain options and for certain investors are short and strict deadlines running. Deadline: December 3, 2018. NASDAQ: ACHC investors should contact the Shareholders Foundation at firstname.lastname@example.org 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.
According to the complaint the plaintiff alleges on behalf of purchasers of Acadia Healthcare Company Inc (NASDAQ: ACHC) common shares between February 23, 2017 and October 24, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 23, 2017 and October 24, 2017, 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 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.
Those who purchased shares of Acadia Healthcare Company Inc (NASDAQ: ACHC) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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