The investigation for investors in NYSE:AH shares over potential wrongdoing at Accretive Health continues and current long-term NYSE:AH stockholders are encouraged to contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 03/19/2013 -- An investigation on behalf of current long term investors in NYSE:AH shares is ongoing concerning whether certain Accretive Health officers and directors possibly breached their fiduciary duties in connection with certain statements.
Investors who purchased shares of Accretive Health, Inc. (NYSE:AH)as early as 2011 and continue to hold any of those shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Accretive Health officers and directors caused damage to the company. and its shareholders by failing to implement adequate internal controls and misstating the company's financial results.
On March 29, 2012, Accretive Health, Inc. announced that in response to a lawsuit filed by Minnesota’s Attorney General, Accretive Health, Inc. had agreed to no longer collect debts on behalf of Fairview Health Services and would transition management of those operations to Fairview. Then, on April 24, 2012, the Minnesota Attorney General released a report which highlighted aggressive practices used by Accretive Health, Inc.
Several lawsuits by investors were filed in 2012 over alleged securities laws violations. According to the plaintiffs Accretive Health, Inc. allegedly failed to disclose between March 2, 2011 and April 24, 2012, that it was violating health privacy laws, state debt collection laws and state consumer protection laws and as a result of defendants’ statements, Accretive Health’s stock traded at artificially inflated prices between March 2, 2011 and April 24, 2012, reaching a high of $30.80 per share on August 1, 2011.
On Feb. 26, 2013, Accretive Health, Inc. announced that it will postpone the release of its financial results for the fourth quarter and full year 2012, as well as its previously announced investor conference call scheduled for February 27, 2013, because it is evaluating the timing of revenue recognition for its revenue cycle management agreements.
Shares of Accretive Health, Inc. (NYSE:AH) fell to as low as $8.57 per share on Feb. 27, 2013, which is significantly below its current 52 week high of $25.28 per share.
Those who are current long term stockholders of shares of Accretive Health, Inc. (NYSE:AH), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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