Acadia’s $179 Million Investor Class Deal Gets Court Sendoff

Acadia Healthcare Co.'s $179 million investor settlement garnered a federal judge’s final blessing to resolve allegations that the behavioral health group misrepresented the adequacy of its patient care, staffing levels, and other metrics.

The US District Court for the Middle District of Tennessee judge’s final approval Wednesday of the settlement—in which Acadia denied wrongdoing and avoided a trial—ends more than seven years of litigation between investors, the company, and former executives. Judge William L. Campbell Jr. also awarded the investors’ lead counsel one-third of the settlement sum in attorneys’ fees—about $59.7 million—and almost $5.1 million for litigation expenses, plus ...