AAC Holdings, Inc. (AAC) is a publicly traded company that operates substance abuse centers and provides certain outpatient mental health services.
Recently, major questions have been raised related to the financial information provided by the company.
Indeed, as reported by the Nashville Business Journal, the Brentwood, Tennessee-based AAC Holdings is facing an ongoing investigation from the Securities and Exchange Commission (SEC).
AAC Holdings: Recent Financial Statements May Be Unreliable
As part of a wider SEC investigation into the financial and accounting practices of AAC Holdings, the company has been forced to provide new disclosures to investors.
Specifically, in April of 2019, AAC Holdings announced that errors in previous financial statements were being corrected. Currently, revised financial information has been provided for 2017 and 2018.
Among other things, the misstatements made in previous financial reports released by AAC Holdings had an impact on the company’s reported revenue and on its future estimates.
This could have serious ramifications for investors. Notably, based on information obtained from Yahoo Finance, the AAC Holdings stock price is down by approximately 50 percent since February. Investors should carefully monitor this situation.
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