Acadia Healthcare Investigation Continued: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Acadia Healthcare Company, Inc. - ACHC
Kahn Swick & Foti announced it is continuing its investigation into whether Acadia Healthcare's officers and directors breached fiduciary duties or violated state or federal laws. The investigation follows the company's September 2024 disclosure of a DOJ information request and grand jury subpoena regarding admissions, length-of-stay, and billing practices, and an October 2024 guidance cut to $3.15-$3.165 billion in revenue. Acadia is already a defendant in a securities class action, and KSF notes the court recently denied the company's motion to dismiss, allowing the case to proceed.
Key figures
- Revenue
- $3.15 to $3.165 billion
- Adjusted ebitda guidance
- $725 to $735 million
- Guidance disclosure date
- October 30, 2024
- Same store patient day growth
- 3%
AI analysis
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