AAC Holdings Investors Drop Bankrupt Firm From Securities Suit

AAC Holdings Inc. investors want to voluntarily drop the bankrupt company from their would-be class suit over an alleged marketing scheme so they can focus on claims against several executives, they told a federal judge in Tennessee.

The addiction treatment services provider lost a bid to dismiss the investor suit April 8. Just two weeks later, the investors want to drop AAC from the case in order to move forward with “significant concessions” they secured as part of a bankruptcy proceeding the company began in June 2020, they said in a filing in the U.S. District Court for the Middle ...