Shareholder rights firm investigating Acadia Healthcare
An edited news release from Johnson Fistel, LLP regarding Tennessee-based Acadia Healthcare.
SAN DIEGO, Sept. 27, 2024 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP is investigating whether Acadia Healthcare Company, Inc., any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focuses on investors’ losses and whether they may be recovered under the federal securities laws.
Acadia Healthcare, on September 26, 2024, consented to a settlement of $19.85 million to address allegations asserting that the company submitted claims for medically unnecessary inpatient behavioral health services, the U.S. Justice Department announced. Of this settlement, $16.66 million will be disbursed to the U.S. government to resolve accusations of fraudulent billing under federal health programs, and an additional $3.19 million will be allocated to the states of Florida, Georgia, Michigan, and Nevada to settle claims under respective state laws.
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.