Izard Nobel LLP Announces Class Action Lawsuit Against Accretive
WEST HARTFORD, CT -- (Marketwire) -- 04/30/12 -- The law firm of
Izard Nobel LLP, which has significant experience representing
investors in prosecuting claims of securities fraud, announces that a
lawsuit seeking class action status has been filed in the United
States District Court for the Northern District of Illinois on behalf
of purchasers of the common stock of Accretive Health, Inc.
("Accretive" or the "Company") (NYSE: AH) between March 2, 2011 and
April 24, 2012, inclusive (the "Class Period").
The Complaint alleges that Accretive, a company that provides revenue
cycle management services for hospitals and healthcare providers, and
certain of its officers and directors violated the federal securities
laws. Specifically, the defendants concealed that the Company was
violating health privacy laws, state debt collection laws and state
consumer protection laws. Further, Accretive failed to disclose the
effect that the Company's violations of health privacy laws, state
debt collection laws and state consumer protection laws would have on
its future earnings.
On April 24, 2012, the Minnesota Attorney General released a report
that highlighted aggressive practices used by Accretive, including
demanding payment from people seeking care in emergency rooms and
gaining access to private medical records. On this news, shares of
Accretive fell 41% to close at $10.86 per share on April 25, 2012.
If you are a member of the class, you may, no later than June 25,
2012, request that the Court appoint you as lead plaintiff of the
class. A lead plaintiff is a class member that acts on behalf of
other class members in directing the litigation. Although your
ability to share in any recovery is not affected by the decision
whether or not to seek appointment as a lead plaintiff, lead
plaintiffs make important decisions which could affect the overall
recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the defendants,
to view a copy of the Complaint initiating the class action or for
more information about the case, and your rights, visit:
www.izardnobel.com/accretive/, or contact Izard Nobel LLP toll-free:
(800)797-5499, or by e-mail: email@example.com. For more
information about class action cases in general, please visit our
Nancy A. Kulesa
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