Former United States Securities and Exchange Commission attorney
, founder of
The Briscoe Law Firm, PLLC
, and the securities litigation firm of
Powers Taylor, LLP
announce that a federal class action lawsuit has been filed in the Northern District of Illinois against Accretive Health, Inc. (“Accretive” or “Company”) (NYSE: AH) and several of its officers and directors for their actions during the period of May 20, 2010 to February 26, 2013 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Accretive. If you are an affected Accretive shareholder and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at
, or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via email at
. There is no cost or fee to you.
In a recently filed complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that defendants’ misrepresented and/or failed to disclose that, among other things: (1) the Company had improperly recognized revenue under certain managed service contracts; (2) the Company did not prepare its financial statements in accordance with Generally Accepted Accounting Principles (“GAAP”); (3) the Company lacked adequate internal and financial controls; and (4) the Company’s financial statements were false and misleading at all relevant times due to the above.
“The allegedly improper business practices conducted by Accretive have prompted our firms to investigate additional claims against the Company’s officers and directors, including potential breaches of fiduciary duties and other violations of state law. Based on our investigation, we are prepared to pursue litigation to preserve the company and the value of Accretive stock for all shareholders,” said shareholder rights attorney Patrick Powers.