Acadia Healthcare shares are trading lower after the company said it was among a number of defendants named in New Mexico lawsuits. The company said a jury awarded the plaintiff compensatory damages of $80 million and punitive damages of $405 million.
Portfolio Pulse from Benzinga Newsdesk
Acadia Healthcare (ACHC) shares are trading lower after the company announced it was among several defendants named in New Mexico lawsuits. A jury awarded the plaintiff compensatory damages of $80 million and punitive damages of $405 million.
July 12, 2023 | 5:52 pm
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NEGATIVE IMPACT
Acadia Healthcare's stock price is expected to decrease in the short term due to the financial burden of the lawsuit damages.
The company's announcement of being a defendant in a lawsuit with significant damages awarded to the plaintiff is a negative event that is likely to impact investor sentiment and cause a decrease in the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100