AAC Holdings, Inc. is an American company that provides substance use treatment services for individuals with drug addiction, alcohol addiction, and co-occurring mental/behavioral health issues.

According to the law firm press release, the Complaint alleges that throughout the Class Period, Defendants made false and misleading statements and failed to disclose material information, including with respect to legal proceedings brought against subsidiaries of the Company and several former and one current employees, including its President at the time. On August 3, 2015, the Company revealed that second degree murder and dependent adult abuse indictments had been brought in California. This news caused AAC's share price to drop substantially, harming investors. The drop in the days following the disclosure of the indictments equaled approximately $153 million in market capitalization losses, or 39%, of AAC's value.

Plaintiffs filed a consolidated Complaint on February 29, 2016.

On July 1, 2016, the Court issued an Order denying Defendants' Motion to Dismiss.

Class Certification was granted on July 17, 2017.

On February 15, 2018, the parties entered into a Stipulation of Settlement. This Settlement was preliminarily approved on March 7. On June 11, the Court granted final approval of the Settlement and entered Final Judgment. On August 1, the Court issued an Order granting approval of the Settlement Distribution Plan.