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ACHC.US
id: 1372
Acadia Healthcare (ACHC) Patient Abuse and Insurance Fraud Scandal
M.D. Tennessee
Court3:24-CV-01238
Case number02/28/2020
Class period Start09/26/2024
Class period End12/16/2024
Lead Plaintiff motion deadline- $ACHC stockholders filed a claim against Acadia Healthcare for misleading them about detaining patients without medical need and deceiving insurance providers.
- Following the New York Times article on September 1, 2024, $ACHC fell by 4.5%.
- $ACHC investors can join this case to be notified about potential recovery.
Case Details:
On September 1, 2024, the New York Times revealed that Acadia detained patients without medical necessity and billed insurance providers for unnecessary treatments.
After this news, $ACHC dropped by over 4.5%.
Later, on September 27, 2024, Acadia revealed that it had received subpoenas from the U.S. Attorney’s Office and other government agencies related to its admissions and billing practices.
This disclosure caused $ACHC to fall by 16.36%.
Based on these events, $ACHC stockholders filed a claim accusing them of the following:
- The company detained patients without medical necessity.
- It deceived insurance providers into covering unnecessary stays.
- It misled investors about its operations and financial practices.
Investors believe Acadia misled them by detaining patients without medical necessity and deceiving insurance providers.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements,
Fraud,
Failure to Disclose
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09/01/2024
Filing date
10/16/2024
Lead Plaintiff Deadline
12/16/2024
Judge
Aleta A. Trauger