LOS ANGELES, Sept. 27, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Acadia Healthcare Company, Inc. (“Acadia Healthcare” or “the Company”) (NASDAQ: ACHC) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Acadia Healthcare investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: info@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On Sunday, September 1, 2024, The New York Times published an article titled “How a Leading Chain of Psychiatric Hospitals Traps Patients.” The piece revealed that Acadia Healthcare, one of America’s largest psychiatric hospital chains, has seen a surge in revenue since the pandemic intensified the national mental health crisis. However, an investigation found that some of this success stemmed from troubling practices: Acadia allegedly lured patients into its facilities and held them against their will, even when such detentions were not medically warranted. Records reviewed by The Times indicated that in at least 12 of the 19 states where Acadia operates, numerous patients, employees, and police officers had reported unlawful detentions. In some instances, judges had to step in to compel Acadia to release patients.
As a result of this news, Acadia Healthcare’s stock price dropped by 4.5% on September 3, 2024.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bars
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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