Robbins Arroyo LLP: AAC Holdings, Inc. (AAC) Misled Shareholders According to a Recently Filed Lawsuit

SAN DIEGO & BRENTWOOD, Tenn.–(BUSINESS WIRE)–$AAC #ClassAction–Shareholder rights law firm Robbins
Arroyo LLP announces that a purchaser of AAC Holdings, Inc. (NYSE:
AAC) filed a class action complaint for alleged violations of the
Securities Exchange Act of 1934 between March 8, 2017 and April 15,
2019. AAC Holdings provides inpatient and outpatient substance use
treatment services for individuals with drug addition, alcohol
addiction, and co-occurring mental/behavioral health issues in the
United States.

View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/aac-holdings-may-19/

AAC Accused of Misleading Investors

According to the complaint, since 2017, AAC had attested to the accuracy
of its filings. However, AAC failed to disclose that its internal
controls over financial reporting and disclosure controls and procedures
were inadequate to accurately reflect adjustments related to estimates
for accounts receivable, provision for doubtful accounts, and revenue.
In April 2019, AAC issued a press release announcing that its annual
reports for previous years, as well as all quarterly reports, could no
longer be relied on. On this news, AAC’s stock price fell $0.40 per
share, or over 18%, to close at $1.74 per share on April 16, 2019, and
continues to decline.

AAC Holdings Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leo Kandinov at (800)
350-6003, lkandinov@robbinsarroyo.com
or via the shareholder
information form on the firm’s website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contacts

Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San
Diego, CA 92122
lkandinov@robbinsarroyo.com
(619)
525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com