An investigation for investors in AAC Holdings Inc (NYSE:AAC) shares over potential securities laws violations by AAC Holdings was announced and NYSE:AAC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/09/2015 -- An investigation on behalf of investors of AAC Holdings Inc (NYSE:AAC) shares was announced concerning potential securities laws violations by AAC Holdings and certain of its directors and officers in connection certain financial statements.
Investors who purchased shares of AAC Holdings Inc (NYSE:AAC), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of AAC Holdings Inc (NYSE:AAC) concerning whether a series of statements by AAC Holdings Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
AAC Holdings Inc reported that its annual Total Revenue rose from $28.27 million in 2011 to $132.97 million in 2014 Shares of AAC Holdings Inc (NYSE:AAC) grew from $18.10 per share in October 2014 to $38.20 per share in late February 2015.
Then an article alleged that shares of AAC Holdings Inc, also known as American Addiction Centers, are likely to fall by at least 50%, as it inflated its revenues and margins by conducting medically unnecessary testing. The article claims that it revealed that AAC Holdings Inc subsidiaries are testing their clients 6-12x more frequently than necessary and are then running unnecessary confirmatory tests which are then billed to insurance companies. The article further stated that AAC Holdings Inc is already the subject of one lawsuit in New Jersey alleging fraudulent billing with respect to excessive urine testing and that while AAC Holdings Inc has exited New Jersey, the same practices are still going on in other states. Shares of AAC Holdings Inc (NYSE:AAC) declined to as low as $29.75 per share on March 3, 2015.
On March 5, 2015, NYSE:AAC shares closed at $32.10 per share.
Those who purchased shares of AAC Holdings Inc (NYSE:AAC) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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