NEW ORLEANS, March 16, 2018 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 14, 2018 to file lead plaintiff applications in a securities class action lawsuit against Acadia Healthcare Company, Inc. (NasdaqGS:ACHC), if they purchased the Company’s securities between February 23, 2017 and October 24, 2017, inclusive (the “Class Period”), including an August 22, 2017 public offering. This action is pending in the United States District Court for the Middle District of Tennessee.
What You May Do
If you purchased securities of Acadia and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-achc/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 14, 2018.
About the Lawsuit
Acadia and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 24, 2017, the Company disclosed negative financial results for 3Q 2017 including a reduction to its guidance for fiscal year 2017 and a significant cut to EBITDA relating to its U.K. facilities purportedly driven by “lower census and higher operating costs.”
On this news, the price of Acadia’s shares plummeted 26% to close at $32.68 per share.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
Source:Kahn Swick & Foti, LLC