LOS ANGELES–(BUSINESS WIRE)–lt;a href="https://twitter.com/search?q=%24AAC&src=ctag" target="_blank"gt;$AAClt;/agt; lt;a href="https://twitter.com/hashtag/AAC?src=hash" target="_blank"gt;#AAClt;/agt;–The
Schall Law Firm, a national shareholder rights litigation firm,
announces the filing of a class action lawsuit against AAC Holdings,
Inc. (“AAC” or “the Company”) (NYSE: AAC)
for violations of §§10(b) and 20(a) of the Securities Exchange Act of
1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and
Investors who purchased the Company’s shares between March 8, 2017 and
April 15, 2019, inclusive (the “Class Period”), are encouraged to
contact the firm before July 15, 2019.
If you are a shareholder who suffered a loss, click
here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of
the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA
90067, at 424-303-1964, to discuss your rights free of charge. You can
also reach us through the firm’s website at www.schallfirm.com,
or by email at [email protected].
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If you
choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading
statements to the market. AAC failed to maintain adequate controls on
financial reporting. Additionally, disclose controls were insufficient
to accurately show adjustments to estimates of accounts receivable,
provision for doubtful accounts, and revenues. Based at least in part on
these inadequate controls, the Company misstated its financial results
in the annual reports for fiscal years 2016 and 2017, as well as all
quarterly reports throughout 2017 and 2018. AAC was ultimately forced to
restate its financial and operating results for these periods. Based on
these facts, the Company’s public statements were false and materially
misleading throughout the class period. When the market learned the
truth about AAC, investors suffered damages.
the case to recover your losses.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder rights
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and rules of ethics.