AAC Securities Litigation
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Welcome To the AAC Securities Litigation Website

This website has been established to provide general information related to the proposed settlement of the case known as Indiana Public Retirement System v. Cartwright, et al., Civil Action No. 3:19-cv-00407, pending before the United States District Court for the District of Tennessee, Nashville Division (the "Court"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated May 17, 2023, which can be found and downloaded by clicking on the Case Documents tab above. Your rights may be affected if you purchased or acquired the common stock of AAC Holdings, Inc. (“AAC”) from March 8, 2017 through April 15, 2019, inclusive (the “Class Period”).

The law firm of Robbins Geller Rudman & Dowd LLP represents the Class Members. These lawyers are called Lead Counsel. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.


As more fully described in the Notice of Pendency and Proposed Settlement of Class Action (the Notice), Lead Plaintiff filed an Operative Complaint alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”). Specifically, Plaintiff alleged that throughout the alleged Class Period AAC made materially false and misleading statements and AAC had fraudulently inflated its accounts receivable, and thus overstated its reported net income and/or understated the net losses it reported to investors during the Class Period. Plaintiff further alleged that Defendants’ allegedly fraudulent misconduct and false and misleading statements caused AAC common stock to trade at artificially inflated prices during the Class Period until the true nature of Defendants’ alleged wrongdoing was disclosed, and the price of AAC common stock fell, causing damages to Plaintiff and other Members of the Class.

In the course of the Action, the Settling Parties engaged the services of Gregory P. Lindstrom, Esq., an experienced mediator, in good faith efforts to resolve the case. The Settling Parties engaged in settlement discussions on multiple occasions and ultimately an agreement was reached to settle the Litigation in return for a cash payment of $3.75 million for the benefit of the Class.


The Settlement, if approved, will result in the creation of a cash settlement fund of $3,750,000 (the “Settlement Amount”). The Settlement Amount, plus accrued interest (the “Settlement Fund”) and minus the costs of the Notice and all costs associated with the administration of the Settlement, as well as any attorneys’ fees and expenses that may be approved by the Court (the “Net Settlement Fund”), will be distributed to eligible Class Members pursuant to the Plan of Allocation that is described in the Notice.


Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully. You may also wish to read the answers to Frequently Asked Questions provided on this website.


SUBMIT A PROOF OF CLAIM FORM The only way to be eligible to receive a payment from the Settlement. Proof of Claim forms must be postmarked or submitted online on or before November 24, 2023.
EXCLUDE YOURSELF Get no payment. This is the only option that potentially allows you to ever be part of any other lawsuit against the Defendants or any other Released Persons about the legal claims being resolved by this Settlement. Should you elect to exclude yourself from the Class you should understand that Defendants and the other Released Defendant Parties will have the right to assert any and all defenses they may have to any claims that you may seek to assert, including, without limitation, the defense that any such claims are untimely under applicable statutes of limitations and statutes of repose. Exclusions must be postmarked on or before September 27, 2023. 
OBJECT Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and expenses. You will still be a Member of the Class. Objections must be received on or before September 27, 2023. If you submit a written objection, you may (but do not have to) attend the hearing.
GO TO THE HEARING ON OCTOBER 18, 2023 Ask to speak in Court about the fairness of the Settlement. Requests to speak must be received by the Court and counsel on or before September 27, 2023. 
DO NOTHING Receive no payment. You will, however, still be a Member of the Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation


Submit Proof of Claim: November 24, 2023
Request Exclusion: September 27, 2023
Submit Objection: September 27, 2023
File Notice of Intention to Appear: September 27, 2023
Settlement Hearing: October 18 2023 at 3:00 p.m. CST