Acadia to Pay $179 Million in Care Quality Investor Accord (1)

Acadia Healthcare Co. Inc. agreed to pay $179 million to end investor allegations that it misrepresented the adequacy of its patient care, staffing levels, and other metrics.

The pension funds leading the class asked the US District Court for the Middle District of Tennessee for preliminary approval of the deal Monday. If approved, the agreement would end seven years of litigation over whether the behavioral health care company misled investors about certain issues, including its regulatory compliance and financial projections for its United Kingdom operations. The agreement, in which the company denied the allegations, came weeks after Chief Judge William ...