Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of investors who purchased Accretive Health, Inc. (“Accretive” or the “Company”) (NYSE: AH) stock between March 2, 2011 and April 24, 2012 (the “Class Period”).
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The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and prospects. Specifically, Accretive failed to disclose that it was in violation of health privacy laws, state debt collection laws and consumer protection laws.
In response to a lawsuit filed by Minnesota Attorney General Lori Swanson, the Company agreed to no longer collect debts on behalf of Fairview Health Services. On this news, Accretive shares declined 18.5%, to close at $19.60 per share on March 29, 2012. Then, on April 24, 2012, Attorney General Swanson released a report detailing Accretive’s debt collection practices, including the demand of payment from patients currently seeking medical care in hospitals. Upon release of this information, Accretive shares declined more than 40% to close at $10.75 per share on April 25, 2012.
If you suffered a loss in Accretive you have until June 25, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/accretive-health.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.