Acadia Healthcare Faces Ongoing Investigation Into Fiduciary Conduct

The investigation by Kahn Swick & Foti follows a turbulent period for the behavioral healthcare provider. In late 2024, Acadia disclosed that it had received a grand jury subpoena from the U.S. District Court for the Western District of Missouri and a request for information from the Southern District of New York. These inquiries specifically target the company’s internal protocols regarding admissions, length of stay, and billing transparency.

Simultaneous with these regulatory pressures, Acadia downgraded its 2024 financial outlook. The company projected revenue between $3.15 billion and $3.165 billion, citing a sluggish 3% growth in same-store patient days during October. Investors allege that the company failed to disclose material information, prompting the current securities class action. As the case advances, legal counsel is now examining whether officers and directors failed to protect shareholder interests, potentially violating state or federal mandates.