BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased AAC Holdings, Inc. (“AAC Holdings” or the “Company”) (NYSE:AAC) securities between October 2, 2014 and August 3, 2015, inclusive (the “Class Period”). AAC Holdings investors have until October 23, 2015 to file a lead plaintiff motion. Investors who suffered losses of over $100,000 on their investment in AAC Holdings securities are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action.
On August 4, 2015, news reports revealed that several AAC Holdings employees have been named in a criminal indictment alleging murder charges for the death of a former AAC Holdings patient. The employees allegedly named as defendants for the death of the former patient are the AAC Holdings former president, Jerrod Menz, a former board member, a current employee and three former employees. On news of these criminal charges, AAC Holdings common stock has declined sharply in value, falling $12.07 per share, or nearly 40%, during intra-day trading on August 4, 2015.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects including with respect to legal proceedings brought against subsidiaries of the Company and several former and current employees, including its President at the time, Jerrod N. Menz.
If you purchased shares of AAC Holdings during the Class Period you may move the Court no later than October 23, 2015 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, toll-free at 888-638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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