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Provider: Reuters Investment Profile
Provider: Reuters Investment Profile
Provider: Ford Investor Services, Inc.

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Bernstein Liebhard LLP Announces Investigation Into Accretive Health Inc

Wednesday, 27 Feb 2013 01:26pm EST 

Bernstein Liebhard LLP announced an investigation into Accretive Health Inc (Accretive or the Company) concerning allegations that Accretive may have issued materially misleading information to the investing public. The investigation focuses on allegations that certain statements issued by the Company between May 9, 2012 and February 26, 2013 (the Relevant Period) regarding Accretive's business, operations and prospects were false and misleading. Accretive provides revenue cycle management services for hospitals and healthcare providers in the United States. The investigation relates to Accretive's February 26, 2013 announcement 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. Additionally, the Company announced that it was withdrawing the financial guidance that it previously provided on November 7, 2012. On this news, shares of Accretive declined almost 20% on heavy trading volume. 

Company Quote

-0.115 -0.85%
25 Apr 2014