NEW YORK, Oct. 05, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire is investigating certain officers and directors of Acadia Healthcare Company, Inc. (NASDAQ: ACHC), American Renal Associates Holdings, Inc. (NYSE: ARA), Camping World Holdings, Inc. (NYSE: CWH), and Cardinal Health, Inc. (NYSE: CAH) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
Acadia Healthcare Company, Inc. (NASDAQ: ACHC)
Bragar Eagel & Squire is investigating certain officers and directors of Acadia Healthcare Company, Inc. following a class action complaint that was filed against Acadia Healthcare on October 1, 2018.
The complaint alleges that throughout the class period, defendants made materially false and misleading statements regarding Acadia’s business and operations, including by falsely stating that the quality of Acadia’s U.K. operations gave it a competitive strength that would drive future growth and profitability, and by issuing false and misleading guidance regarding the company’s actual and projected 2017 revenue, earnings before interest, taxes, depreciation and amortization (EBITDA) and earnings per share (EPS). As a result of defendants’ false statements, Acadia stock traded at artificially inflated prices of more than $52 per share during the Class Period. While Acadia stock was trading at these artificially inflated prices, the company’s CEO and President sold 706,000 shares of their Acadia stock for proceeds of more than $35 million. Then on October 24, 2017, Acadia announced its financial results for the third quarter of 2017. The company revealed a drastic shortfall in EBITDA for its U.K. operations, purportedly resulting from lower census and higher operating costs, and lowered its financial guidance for 2017, including lowering its EPS guidance as much as $0.24 per share. Following these revelations, the price of Acadia stock price fell 26%, from a close of $44.12 per share on October 24, 2017 to a close of $32.68 per share on October 25, 2017.
For more information on our investigation into Acadia Healthcare go to: https://bespc.com/achc
American Renal Associates Holdings, Inc. (NYSE: ARA)
Bragar Eagel & Squire is investigating certain officers and directors of American Renal Associates, Inc. following a class action complaint that was filed against American Renal Associates on March 28, 2019.
The complaint alleges that throughout the class period defendants made false and/or misleading statements and/or failed to disclose that: (1) issues with American Renal's accounting process for revenue recognition, collections, and related matters would give rise to a U.S. Securities and Exchange Commission ("SEC") investigation into the same, and increased regulatory scrutiny by the SEC; (2) American Renal's financial statements for fiscal years 2014, 2015, 2016 and 2017 contained in its Annual Reports for the years ended December 31, 2016 and 2017, and its condensed consolidated financial statements in quarterly reports from 2016 through 2018 were false and could not be relied upon; (3) American Renal had material weaknesses in its internal control over financial reporting; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on our investigation into American Renal Associates go to: https://bespc.com/ara-2
Camping World Holdings, Inc. (NYSE: CWH)
Bragar Eagel & Squire is investigating certain officers and directors of Camping World Holdings, Inc. following a class action complaint that was filed against Camping World on October 19, 2018.
The complaint alleges that during the class period defendants made false and misleading statements and/or failed to disclose adverse information regarding Camping World's business, operations and financial condition. Specifically, the complaint alleges defendants failed to disclose, among other things, that the company's disclosure controls and controls over financial reporting suffered from a host of material weaknesses; that the company's historical financial results had been materially misstated; that the Gander stores had encountered integration setbacks, adversely impacting the company's earnings growth and profit margins; and that the company's core RV business was experiencing decelerating growth as the Company lagged industry trends and was losing market share to competitors. As a result of this information being withheld from the market, the price of Camping World Class A common stock was artificially inflated to a high of $47.19 per share during the Class Period.
For more information on our investigation in to Camping world go to: https://bespc.com/cwh
Cardinal Health, Inc. (NYSE: CAH)
Bragar Eagel & Squire is investigating certain officers and directors of Cardinal Health, Inc. following a class action complaint that was filed against Cardinal Health on August 1, 2019.
The complaint alleges that throughout the class period, defendants misled investors by stating that Cordis would benefit from Cardinal's advanced inventory management and supply chain information technology solutions. Defendants also falsely represented that the Company properly "reserve[d] for inventory obsolescence" and that "[i]nventories presented in the consolidated balance sheets [were] net of reserves for excess and obsolete inventory." As a result of these misrepresentations, Cardinal shares traded at artificially inflated prices throughout the Class Period.
For more information on our investigation into Cardinal Health go to: https://bespc.com/cah
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com . Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Melissa Fortunato, Esq. (212) 355-4648 investigations@bespc.com www.bespc.com
