NEW YORK, Aug. 4, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm, a global investor rights law firm, announces that it is investigating potential securities claims on behalf of shareholders of AAC Holdings, Inc. resulting from allegations that AAC Holdings, also known as American Addiction Centers, may have issued materially misleading business information to the investing public.
On July 29, 2015, AAC Holdings disclosed that the California Department of Justice indicted subsidiaries of AAC Holdings and two current and three former employees for murder. Among those indicted is Jerrod Menz, AAC Holdings' co-founder and AAC Holdings' President until his resignation that same day. On August 4, 2015, SeekingAlpha published an article asserting, among other things, that AAC Holdings had reason to know in 2013 about the criminal investigation that led to the recent murder indictment, yet did not disclose the criminal investigation to investors in its Securities & Exchange Commission filings. On this news, shares of AAC Holdings fell $12.90 per share or over 39% to close at $19.89 per share on August 4, 2015, damaging investors.
The Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by AAC Holdings investors. If you purchased shares of AAC Holdings before August 4, 2015, please visit the website at http://rosenlegal.com/cases-532.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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