A lawsuit was filed on behalf of investors in AAC Holdings, Inc. (NYSE: AAC) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 06/07/2019 -- An investor, who purchased shares of AAC Holdings, Inc. (NYSE: AAC), filed a lawsuit over alleged violations of Federal Securities Laws by AAC Holdings, Inc.
Investors who purchased shares of AAC Holdings, Inc. (NYSE: AAC) have certain options and for certain investors are short and strict deadlines running. Deadline: July 15, 2019. NYSE: AAC investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Brentwood, TN based AAC Holdings, Inc. provides inpatient and outpatient substance use treatment services for individuals with drug addiction, alcohol addiction, and co-occurring mental/behavioral health issues in the United States. On April 16, 2019, AAC Holdings, Inc announced, appended as an exhibit to the Company's Current Report on Form 8-K filed with the SEC, its financial results for the fourth quarter and fiscal year ended December 31, 2018, and providing guidance for 2019. AAC Holdings, Inc disclosed that the Company's annual reports for fiscal years 2017 and 2016, as well as all quarterly reports throughout 2017 and 2018, could no longer be relied upon, and stated that these financial statements would be restated to reflect adjustments related to estimates for accounts receivable, provision for doubtful accounts, and revenue.
The plaintiff claims that between March 8, 2017 and April 15, 2019, the Defendants made false and/or misleading statements and/or failed to disclose that AAC's internal control over financial reporting and disclosure controls and procedures was inadequate to accurately reflect adjustments related to estimates for accounts receivable, provision for doubtful accounts, and revenue, that AAC consequently misstated financial and operating results in its annual reports for fiscal years 2016 and 2017, as well as all quarterly reports throughout 2017 and 2018, that accordingly, those reports could not be relied upon, requiring AAC to restate the financial and operating results reflected therein, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of AAC Holdings, Inc. (NYSE: AAC) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About 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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