LOS ANGELES–(BUSINESS WIRE)–$ACHC #CLASSACTION—Glancy
Prongay & Murray LLP (“GPM”) announces that a class action
lawsuit has been filed on behalf of investors that purchased or
otherwise acquired Acadia Healthcare Company, Inc. (“Acadia” or the
“Company”) (NASDAQ: ACHC)
securities between February 23, 2017 and October 24, 2017, inclusive
(the “Class Period”). Acadia investors have until December 3,
2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to
On October 24, 2017, Acadia reported disappointing Q3 2017
results. Revenue for the quarter was only $716.7 million, compared to
$734.7 million for the third quarter of 2016. The Company attributed the
results, in part, to “lower census and higher operating costs than
anticipated” in the United Kingdom. Acadia also reduced revenue guidance
for fiscal year 2017 from “a range of $2.85 billion to $2.9 billion” to
“a range of $2.82 billion to $2.83 billion.”
On this news, Acadia’s share price fell $11.44, or 25.9%, to close at
$32.68 per share on October 25, 2017, thereby injuring investors.
The Complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and misleading statements
regarding the Company’s business and operations. Specifically, the
complaint alleges that Defendants falsely stated that the quality of
Acadia’s U.K. operations gave it a “competitive strength” that would
drive future growth and profitability; and that Defendants caused Acadia
to issue false and misleading guidance regarding the Company’s actual
and projected fiscal 2017 revenue, earnings before interest, taxes,
depreciation and amortization (“EBITDA”) and earnings per share (“EPS”).
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If you purchased shares of Acadia during the Class Period you may move
the Court no later than December 3, 2018 to ask the Court to
appoint you as lead plaintiff. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century
Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to email@example.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.