To join this class action, please complete the following Investor Certification.  [contact-form-7 id=”1152″ title=”AAC Holdings, Inc. Investor Certification”]

Oklahoma City, OK (May 20, 2019) – On May 16, 2019, a securities class action lawsuit was filed in the United States District Court for the Middle District of Tennessee against AAC Holdings, Inc. (NYSE: AAC).  The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is May 8, 2017 through April 15, 2019.  More specifically, according to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) AAC’s 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; (2) AAC consequently misstated financial and operating results in its annual reports for fiscal years 2016 and 2017, as well as all quarterly reports throughout 2017 and 2018; (3) accordingly, those reports could not be relied upon, requiring AAC to restate the financial and operating results reflected therein; and (4) as a result, AAC’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On April 16, 2019, the Company announced that certain financial statements for fiscal 2017 and 2018 could no longer be relied upon. The Company disclosed that these financial statements would be restated to reflect adjustments related to estimates for accounts receivable, provision for doubtful accounts, and revenue.

On this news, shares of AAC Holdings fell $0.40 per share or over 18% to close at $1.74 per share on April 16, 2019, thereby damaging investors.

Plaintiff seeks to recover damages on behalf of all AAC Holdings, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above.  You may move the Court no later than Monday, July 15, 2019 to serve as a lead plaintiff for the entire Class.  However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact:  Robin Hester at rkh@federmanlaw.com