Acadia Healthcare Company (NASDAQ: ACHC)
Hagens Berman Sobol Shapiro LLP alerts investors in Acadia Healthcare Company (NASDAQ: ACHC) to the December 3, 2018 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Middle District of Tennessee.
If you purchased or otherwise acquired shares of ACHC between February 23, 2017 and October 24, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing ACH@hbsslaw.com.
Throughout the class period, Defendants made positive statements concerning Acadia Healthcare’s United Kingdom facilities.
Then, on October 24, 2017, Defendants reported disappointing earnings, revealed problems with the Company’s U.K. facilities, and significantly reduced 2017 earnings guidance.
This news drove the price of Acadia Healthcare shares down $11.44, or about 26%, to close at $32.68 on October 25, 2017.
Beforehand, during August 2017, Acadia Healthcare’s management (CEO Joey Jacobs and President Brent Turner) sold over 706,000 shares of the Company stock for proceeds of over $35 million.
“We’re focused on investors’ losses and whether Defendants masked the true condition of its business, including the U.K. business,” said Hagens Berman partner Reed Kathrein.
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