Harwood Feffer LLP Announces Investigation of Accretive Health, Inc.
NEW YORK, Feb. 27, 2013 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against Accretive Health, Inc. ("Accretive Health" or the "Company") and its officers and directors on behalf of purchasers of Accretive Health common stock concerning false and misleading statements, omissions and fraudulent accounting practices. More specifically, Harwood Feffer is investigating whether certain statements made by the Company between May 9, 2012 and February 26, 2013 regarding the Company's revenue and related projections were false and misleading because the Company engaged in improper revenue recognition practices during such time.
Accretive Health is a provider of revenue cycle management services for hospitals and healthcare providers in the United States. On February 26, 2013, Accretive Health announced that it would postpone the release of fourth quarter and full-year financial results because of concerns related to its revenue recognition practices under its revenue cycle management agreements with its customers. Relatedly, the Company announced that it was withdrawing its financial guidance provided on November 12, 1012. The market reacted swiftly to this news on February 27, 2013, causing the Company's stock price to drop nearly 30% in intra-day trading on heavy volume.
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
If you purchased Accretive Health common stock and suffered a loss and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Peter W. Overs, Jr. Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
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SOURCE Harwood Feffer LLP