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 May 20, 2010 and February 26, 2013 (the “Class Period”).
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The complaint alleges that throughout the Class Period defendants failed to disclose materially adverse facts regarding the Company’s business and prospects. In particular, it is alleged: (a) that the Company improperly recognized revenue under certain managed service contracts; (b) that the Company’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles; (c) that the Company lacked adequate internal and financial controls; and (d) that, as a result of the aforementioned, the Company’s financial statements were materially false and misleading.
On February 26, 2013, Accretive withdrew its financial guidance for fiscal 2012 and announced it would postpone the release of its financial results for the fourth quarter and year 2012. The Company also acknowledged that an evaluation of revenue for its revenue cycle management agreements could result in the need to restate further financial statements.
If you suffered a loss in Accretive you have until July 19, 2013
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
or by telephone at (877) 363-5972, or visit
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.