Robbins Umeda LLP Announces Investigation Of Accretive Health, Inc

Robbins Umeda LLP announced that it is investigating possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Accretive Health, Inc. In particular, Robbins Umeda is investigating whether the Company's fiduciaries failed to disclose that it was violating health privacy laws, state debt collection laws, and state consumer protection laws. On March 29, 2012, Accretive Health announced that, in response to a lawsuit filed by Minnesota's Attorney General, the Company had agreed to no longer collect debts on behalf of Fairview Health Services. On this news, Accretive Health's stock dropped $4.46 per share to close at $19.60 on March 29, 2012, a one-day decline of nearly 19%. Subsequently, on April 24, 2012, the Minnesota Attorney General released a report which highlighted allegedly aggressive and improper practices used by Accretive Health, including demanding payment from patients seeking care in emergency rooms, cancer wards, and delivery rooms. As a result of this news, Accretive Health's stock fell another $7.63 per share to close at $10.86 per share on April 25, 2012, a one-day decline of 41%. Since these facts have emerged, Accretive Health has increasingly become the focus of costly public and legal scrutiny that continues to undermine the Company's prospects and value for shareholders.