Acadia Healthcare Co.
ACHC,
shares declined in the extended session Tuesday after the behavioral healthcare services company said it would challenge a $485 million award in a lawsuit against the company. Shares fell 3.6% after hours, following a 0.6% decline to close at $79.05. Acadia was named in five lawsuits in New Mexico, and on Friday, one of the plaintiffs was awarded compensatory damages of $80 million and punitive damages of $405 million. “This award far exceeds any reasonable expectation based on the previously resolved complaints and far exceeds any precedent for comparable cases,” Acadia said in a late Tuesday filing with the Securities and Exchange Commission. “The company is evaluating all legal options and intends to challenge this verdict.” The case was filed on behalf of a girl who claimed she was sexually abused in a specialized foster care program.
