Harwood Feffer LLP Announces Investigation of Accretive Health, Inc.
NEW YORK, Feb. 27, 2013
NEW YORK, Feb. 27, 2013 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is
investigating potential claims against Accretive Health, Inc. ("Accretive
Health" or the "Company") and its officers and directors on behalf of
purchasers of Accretive Health common stock concerning false and misleading
statements, omissions and fraudulent accounting practices. More specifically,
Harwood Feffer is investigating whether certain statements made by the Company
between May 9, 2012 and February 26, 2013 regarding the Company's revenue and
related projections were false and misleading because the Company engaged in
improper revenue recognition practices during such time.
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Accretive Health is a provider of revenue cycle management services for
hospitals and healthcare providers in the United States. On February 26,
2013, Accretive Health announced that it would postpone the release of fourth
quarter and full-year financial results because of concerns related to its
revenue recognition practices under its revenue cycle management agreements
with its customers. Relatedly, the Company announced that it was withdrawing
its financial guidance provided on November 12, 1012. The market reacted
swiftly to this news on February 27, 2013, causing the Company's stock price
to drop nearly 30% in intra-day trading on heavy volume.
Harwood Feffer has been representing individual and institutional investors
for many years, serving as lead counsel in numerous cases in federal and state
courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com)
for more information about the firm.
If you purchased Accretive Health common stock and suffered a loss and you
wish to discuss this matter with us, or have any questions concerning your
rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Peter W. Overs, Jr. Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Attorney Advertising. © 2013 Harwood Feffer LLP. The law firm responsible for
this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do
not guarantee or predict a similar outcome with respect to any future matter.
SOURCE Harwood Feffer LLP
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