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ACHC.US
id: 1372

Acadia Healthcare (ACHC) Patient Abuse and Insurance Fraud Scandal

M.D. Tennessee
Court
3:24-CV-01238
Case number
02/28/2020
Class period Start
09/26/2024
Class period End
12/16/2024
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
Collecting participants…

Acadia Healthcare Company Inc

Acadia Healthcare Company, Inc. provides behavioral healthcare services in the United States and Puerto Rico. The company develops and operates acute inpatient psychiatric facilities, specialty tre...

    Ticker
    ACHC.US
    ISIN
    US00404A1097
    CIK
    1520697
    Sector
    Healthcare
    Industry
    Medical Care Facilities
    Country
    USA
    Address
    6100 Tower Circle, Franklin, TN, United States, 37067