SECURITIES FRAUD ALERT – Andrews & Springer LLC Announces That a Securities Fraud Class Action Has Been Filed Against AAC H...
November 16 2015 - 8:06AM
Andrews & Springer LLC, a boutique securities class action
law firm focused on representing shareholders nationwide, announced
that a securities fraud class action lawsuit has been filed by
another law firm on behalf of investors of AAC Holdings, Inc.
(NYSE:AAC) (“AAC Holdings” or the “Company”) in the U.S. District
Court, Middle District of Tennessee, Case No. 3:15-cv-00923
alleging corporate misconduct and violations of securities laws.
A copy of the complaint is available from Andrews & Springer
LLC. If you currently own shares of ACC Holdings and have questions
about your rights or want to receive additional information and
protect your investment free of charge, please visit us at
http://www.andrewsspringer.com/cases-investigations/aac-class-action
or contact Craig J. Springer, Esq.
at cspringer@andrewsspringer.com, or call toll free at
1-800-423-6013. You may also follow us on LinkedIn –
https://www.linkedin.com/company/andrews-&-springer-llc,
Twitter – http://www.twitter.com/AndrewsSpringer or Facebook -
http://www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR
CHOICE.
According to the lawsuit, AAC Holdings and its executives made
false and misleading statements and failed to disclose material
information with respect to legal proceedings brought against its
own subsidiaries and several former employess and one current
employee. On July 29, 2015, AAC Holdings disclosed that the
California Department of Justice indicted its president Jerrod
Menz, another current employee, three former employees, and two
subsidiaries for murder. Menz stepped down from his role as
president and board member following the news. Additionally, new
reports have surfaced that additional patients have died at AAC
Holdings’ facilities but have not been disclosed by the
Company.
On August 4, 2015, SeekingAlpha published an article asserting
that AAC Holdings had reason to know in 2013 about the criminal
investigation that led to the recent murder indictment, yet did not
disclose the criminal investigation to investors in its U.S.
Securities & Exchange Commission filings. On this news, AAC
Holdings stock fell $12.90 per share, or over 39%, to close at
$19.89 per share on August 4, 2015. As a result of the alleged
fraud, shareholders have suffered millions in losses.
As a result of the foregoing news, on August 24, 2015, an AAC
Holdings shareholder represented by another law firm filed a class
action complaint against AAC Holdings for securities fraud.
The complaint was filed in the United States District Court, Middle
District of Tennessee, Case No. 3:15-cv-00923.
If you currently own shares of AAC Holdings and want to receive
additional information and protect your investments free of charge,
please visit us at
http://www.andrewsspringer.com/cases-investigations/aac-class-action
or contact Craig J. Springer, Esq.
at cspringer@andrewsspringer.com, or call toll free at
1-800-423-6013. You may also follow us on LinkedIn –
https://www.linkedin.com/company/andrews-&-springer-llc,
Twitter – http://www.twitter.com/AndrewsSpringer or Facebook -
http://www.facebook.com/AndrewsSpringer for future
updates.
Andrews & Springer is a boutique securities class action law
firm representing shareholders nationwide who are victims of
securities fraud, breaches of fiduciary duty or corporate
misconduct. Having formerly defended some of the largest financial
institutions in the world, our founding members use their valuable
knowledge, experience, and superior skill for the sole purpose of
achieving positive results for investors. These traits are the
hallmarks of our innovative approach to each case our Firm
decides to prosecute. For more information please visit our website
at www.andrewsspringer.com. This notice may constitute Attorney
Advertising.
Craig J. Springer, Esq.
cspringer@andrewsspringer.com
Toll Free: 1-800-423-6013
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