KSF News, Updates, & Insights
KSF Secures Settlement in Principle of Derivative Claims on Behalf of Acadia Healthcare Company, Inc.
On May 21, 2026, the Delaware Court of Chancery entered an order staying the shareholder derivative action captioned Pfenning v. Jacobs, et al., C.A. No. 2020‑0915‑NAC, in light of the parties’ agreement in principle to settle the derivative claims asserted therein and in certain related derivative actions on behalf of Acadia Healthcare Company, Inc. KSF initiated the Pfenning action in October 2020, asserting claims on behalf of Acadia Healthcare against certain of its current and former officers and directors for breaches of fiduciary duty and the misuse of confidential corporate information. The settlement will be presented for approval in the related federal derivative action pending in the United States District Court for the Middle District of Tennessee, In re Acadia Healthcare Company, Inc. Stockholder Derivative Litigation, Lead Case No. 3:19-cv-00167, where the plaintiff anticipates filing a motion for approval of the settlement by June 30, 2026. Please follow this space for further developments.