Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Accretive Health, Inc.

Tue Jul 9, 2013 8:03pm EDT

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Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against Accretive Health, Inc.

The Law Offices of Todd M. Garber announces that investors of Accretive Health, Inc. (“Accretive” or the “Company”) (NYSE:AH) have until July 19, 2013 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the Northern District of Illinois. The lawsuit was filed on behalf of a class (the “Class”) comprising all purchasers of Accretive securities between May 20, 2010 and February 26, 2013 (the “Class Period”).

The Complaint alleges that during the Class Period defendants knew but misrepresented or failed to disclose to the investing public that: (1) the Company had improperly recognized revenue under certain managed service contracts; (2) the Company’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles; (3) the Company lacked adequate internal and financial controls; and (4) as a result of the foregoing, the Company’s financial statements were materially false and misleading at all relevant times.

On February 26, 2013 Accretive announced that it will postpone the release of the Company’s financial results for the fourth quarter and full year 2012 because it is evaluating the timing of revenue recognition for its revenue cycle management agreements. In addition, Accretive withdrew its financial guidance previously provided on November 7, 2012. On this news, shares of Accretive declined almost 20%.

If you are a member of the above-described Class, you may move the Court no later than July 19, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time. You may retain counsel of your choice or take no action and remain an absent Class member. If you purchased Accretive shares prior to the Class Period, or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to info@toddgarberlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Law Offices of Todd M. Garber
Todd M. Garber, Attorney at Law
Los Angeles, California
213-700-7262
info@toddgarberlaw.com

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