Acadia Healthcare Company, Inc. (ACHC) announced it has received preliminary court approval for a proposed settlement to resolve several stockholder derivative lawsuits filed on behalf of the company. The settlement includes a $12 million cash payment to Acadia from its insurers and the implementation of comprehensive corporate governance reforms.
Key Details
- Financial Terms: The settlement provides for a $12.0 million cash payment to be made to Acadia by its directors' and officers' insurance carriers. Separately, Acadia will pay an agreed-upon $4.75 million to cover plaintiffs' attorneys' fees and expenses, subject to court approval.
- Corporate Governance Reforms: Acadia has agreed to adopt, implement, and maintain a series of corporate governance enhancements for at least four years. Key reforms include amending its Disclosure Committee charter, enhancing its Insider Trading and Whistleblower policies, and establishing a new management-level Technology Committee to improve patient care.
- Litigation Resolution: The agreement resolves multiple lawsuits filed in the U.S. District Court for the Middle District of Tennessee and the Delaware Court of Chancery. The settlement received preliminary court approval on September 1, 2026, and is subject to a final settlement hearing for final approval.