ACHC CLASS ACTION: BFA Law has Filed a Securities Fraud Class Action against Acadia Healthcare – Investors with Losses can Contact the Firm (NASDAQ:ACHC)

Core Viewpoint - A lawsuit has been filed against Acadia Healthcare Company, Inc. and certain senior executives, alleging misrepresentation of financial results related to insurance fraud and improper patient detainment practices [1][2][3]. Group 1: Lawsuit Details - The lawsuit is filed in the U.S. District Court for the Middle District of Tennessee, asserting claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [2]. - Investors have until December 16, 2024, to request to lead the case [2]. Group 2: Allegations Against Acadia Healthcare - Acadia is one of the largest for-profit psychiatric hospital chains in the U.S., and the complaint alleges that the company misrepresented its financial results due to practices involving insurance fraud and holding patients against their will [3]. - A New York Times article highlighted that Acadia has been accused of luring patients and detaining them unnecessarily, which led to a stock price drop of $3.72 per share (4.5$75.66 to $63.28 per share on September 27, 2024 [5]. - An investigation by the Veterans Affairs Department into potential insurance fraud by Acadia resulted in a further 12$59.32 to $52.03 per share on October 18, 2024 [6]. Group 3: Legal Representation - Investors in Acadia Healthcare are encouraged to submit their information for potential legal representation, with no upfront costs as the firm operates on a contingency fee basis [8].