Bronstein, Gewirtz & Grossman, LLC Notifies Investors with Losses on Their Investment in Accretive Health, Inc. of Class Action Lawsuit and the Deadline to Seek a Lead Plaintiff Position

Tue May 21, 2013 4:05pm EDT

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Bronstein, Gewirtz & Grossman, LLC Notifies Investors with Losses on Their Investment in Accretive Health, Inc. of Class Action Lawsuit and the Deadline to Seek a Lead Plaintiff Position

PR Newswire

NEW YORK, May 21, 2013 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC remind investors that they have until July 19, 2013 to file lead plaintiff applications in a securities class action lawsuit against Accretive Health, Inc. (NYSE: AH), if they purchased the Company's securities during the period between May 20, 2010 and February 26, 2013, inclusive (the "Class Period").  This action is pending in the United States District Court for the Northern District of Illinois.

On February 27, 2013, shares of Accretive health fell 25% to $9.06 in intraday trading, and had fallen more than 26% at one point, in the wake of a release issued late Tuesday that said it would postpone the Company's financial results for the fourth quarter and full year 2012.   The Company said it is evaluating the timing of revenue recognition for its revenue cycle management pacts it has with its clients.  The Company added if a change is warranted, it may have to restate prior financial statements. 

The Complaint charges Accretive and other defendants with violations of the Federal Securities Laws.   The complaint alleges that throughout the class period defendants failed to disclose the following: (i) that the Company had improperly recognized revenue under certain managed service contracts; (ii) that the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles; (iii) that the Company lacked adequate internal and financial controls; and (iv) that, as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.

No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.  July 19, 2013 is the deadline for investors to seek a lead plaintiff appointment.  Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein 212-697-6484
info@bgandg.com

SOURCE Bronstein, Gewirtz & Grossman, LLC

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