NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, a global investor rights law firm, announces that a class action lawsuit has been filed on behalf of all purchasers of AAC Holdings, Inc. securities (NYSE: AAC) from October 2, 2014 through August 3, 2015. The lawsuit seeks to recover investors’ losses under the federal securities laws.
According to the lawsuit, Defendants made false and misleading statements and failed to disclose material information, including with respect to legal proceedings brought against subsidiaries of AAC Holdings and one present and several previous employees, including its President at the time, Jerrod N. Menz. On August 3, 2015, AAC Holdings disclosed that second degree murder and dependent adult abuse indictments had been brought in California against certain of the Company's subsidiaries and employees, including the Company's former President and Director, Jerrod Menz. Consequently, AAC’s share price fell significantly which damaged investors. The decrease in the days after the disclosure of the indictments equaled approximately $153 million in market capitalization losses, or 39%, of AAC’s value.
If you wish to serve as lead plaintiff, you must move the Court no later than October 23, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation go to the firm’s website at http://www.rosenlegal.com/cases-532.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll-free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.