Health Care Co. Acadia Gets Investor Challenge Quashed

Law360, New York (October 1, 2013, 2:35 PM EDT) -- Acadia Healthcare Co. Inc. escaped a shareholder class action Monday when a Massachusetts federal judge granted the company summary judgment, saying shareholders failed to support damage claims because they ultimately made money on the subject 2011 merger.

Shareholders of mental health care company PHC Inc. originally filed suit in June 2011 against Acadia, PHC and several PHC executives, alleging the companies gave one class of PHC shareholders a better deal than another class of shareholders in a proposed merger. But after the merger took place in...
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