NEW YORK, June 1, 2012 (GLOBE NEWSWIRE) -- Shareholders of Accretive Health, Inc. ("Accretive" or the "Company") (AH) are reminded of the securities class action against Accretive and certain of its officers.The federal securities class action, filed in the United States District Court, Northern District of Illinois (12-cv-3279), is on behalf of all persons who purchased Accretive securities between March 2, 2011 and April 24, 2012, inclusive (the "Class Period"). This class action is brought under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder against the Company and certain of its top officials.
If you are a shareholder who purchased Accretive securities during the Class Period, you have until June 25, 2012 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Rachelle R. Boyle at email@example.com or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Accretive provides revenue cycle management services for hospitals and healthcare providers in the United States.
On March 29, 2012, Accretive revealed that, in response to a lawsuit filed by Minnesota Attorney General ("AG"), the Company had agreed to no longer collect debts on behalf of Fairview Health Services. On this news, Accretive shares declined $4.46 per share or 18.5%, to close at $19.60 per share on March 29, 2012.
On April 24, 2012, the Minnesota AG released a six-volume report detailing Accretive's aggressive debt collection practices, including demanding payment from patients who were currently seeking medical care in hospitals. The next day, an article published by The New York Times discussed the Minnesota AG's report. On these revelations, Accretive shares declined $7.74 per share or nearly 42%, to close at $10.75 per share on April 25, 2012.
The Pomerantz Firm, with offices in New York and Chicago, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
CONTACT: Rachelle R. Boyle Pomerantz Haudek Grossman & Gross LLP firstname.lastname@example.org
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