Judge Keeps Investor Suits Over Acadia-PHC Merger Alive

Law360, New York (March 30, 2012, 7:44 PM EDT) -- Behavioral health services providers Acadia Healthcare Co. Inc. and PHC Inc. have failed in their attempt to rid themselves of shareholder actions over their May merger, with a Massachusetts federal judge ruling Friday that the suits could proceed with most elements intact.

PHC shareholders Peter Blakeslee and MAZ Partners LP adequately made their claims in consolidated actions that accused the companies of giving one class of PHC shareholders a better deal than the other in last year's merger, U.S. District Court Judge George A. O'Toole Jr....
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