NEW YORK, April 25, 2019 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of AAC Holdings, Inc. ("AAC" or the "Company") (NYSE: AAC). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether AAC and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 16, 2019, AAC disclosed that certain financial statements for fiscal years 2017 and 2018 could no longer be relied upon, and stated 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, AAC's stock price fell $0.40 per share, or 18.69%, to close at $1.74 per share on April 16, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP