Acadia Healthcare: Corporation Faces Securities Class Action and DOJ False Claims Accusation

December 4, 2024

Acadia Healthcare is facing a securities class action lawsuit alleging that the company inflated patients' symptoms and unlawfully held them in inpatient care to defraud insurers. The lawsuit, filed on October 29 in the U.S. District Court for the Middle District of Tennessee, follows Acadia’s $19.85 million settlement with the Securities and Exchange Commission over similar allegations of unnecessary services.

In a related federal case, the U.S. Justice Department accused Acadia of submitting false claims to Medicare, Medicaid, and Tricare, citing improper staffing and inadequate patient care at its facilities, leading to incidents like assault and suicide.

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