An investor, who purchased shares of AAC Holdings, Inc. (NYSE: AAC), filed a lawsuit in the U.S. District Court for the over alleged violations of Federal Securities Laws by AAC Holdings, Inc.
Investors in shares of AAC Holdings, Inc. (NYSE: AAC) have certain options and for certain investors are short and strict deadlines running. Deadline: July 15, 2019. NYSE: AAC investors should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.
Brentwood, TN based AAC Holdings, Inc. provides inpatient and outpatient substance use treatment services for individuals with drug addiction, alcohol addiction, and co-occurring mental/behavioral health issues in the United States. On April 16, 2019, AAC Holdings, Inc announced, appended as an exhibit to the Company’s Current Report on Form 8-K filed with the SEC, its financial results for the fourth quarter and fiscal year ended December 31, 2018, and providing guidance for 2019. AAC Holdings, Inc disclosed that the Company’s annual reports for fiscal years 2017 and 2016, as well as all quarterly reports throughout 2017 and 2018, could no longer be relied upon, and stated that these financial statements would be restated to reflect adjustments related to estimates for accounts receivable, provision for doubtful accounts, and revenue.
The plaintiff claims that between March 8, 2017 and April 15, 2019, the Defendants made false and/or misleading statements and/or failed to disclose that AAC’s internal control over financial reporting and disclosure controls and procedures was inadequate to accurately reflect adjustments related to estimates for accounts receivable, provision for doubtful accounts, and revenue, that AAC consequently misstated financial and operating results in its annual reports for fiscal years 2016 and 2017, as well as all quarterly reports throughout 2017 and 2018, that accordingly, those reports could not be relied upon, requiring AAC to restate the financial and operating results reflected therein, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.
Those who purchased shares of AAC Holdings, Inc. (NYSE: AAC) have certain options and should contact the Shareholders Foundation.
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