Glancy Prongay & Murray LLP Announces Proposed Settlement of Accretive Health, Inc. Securities Litigation

CHICAGO, April 14, 2016 /PRNewswire/ -- The following statement is being issued by Glancy Prongay & Murray LLP regarding the Accretive Health, Inc. Securities Litigation:

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION

TO:     ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE COMMON STOCK OF ACCRETIVE HEALTH, INC. ("ACCRETIVE HEALTH"), WHO PURCHASED OR ACQUIRED CALL OPTIONS ON ACCRETIVE HEALTH COMMON STOCK, OR WHO WROTE PUT OPTIONS ON ACCRETIVE HEALTH COMMON STOCK BETWEEN MAY 20, 2010 AND DECEMBER 30, 2014, INCLUSIVE

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of Illinois, that a hearing will be held on June 28, 2016, at 10:00 a.m., before the Honorable Joan B. Gottschall in the United States District Court for the Northern District of Illinois, Eastern Division, Everett McKinley Dirksen United States Courthouse, 219 South Dearborn Street, Courtroom 2325, Chicago, IL 60604, for the purpose of determining: (1) whether the proposed Settlement of the claims in the Litigation for the sum of $3.9 million in cash should be approved by the Court as fair, reasonable, and adequate to Settlement Class Members; (2) whether to certify the Settlement Class; (3) whether, thereafter, this Litigation should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement dated February 19, 2016; (4) whether the proposed plan to distribute the Settlement proceeds (the "Plan of Allocation") is fair, reasonable, and adequate and therefore should be approved; (5) whether the application of Lead Counsel for the payment of attorneys' fees and expenses incurred in connection with this Litigation should be approved; (6) whether the Court should grant Lead Plaintiff's reimbursement of its reasonable costs and expenses (including lost wages) directly related to its representation of the Settlement Class; and (7) any other matters relevant to the Settlement that the Court considers necessary or appropriate (the "Settlement Hearing"). The Court has reserved the right to reschedule the hearing from time to time without further notice.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not received a detailed Notice of Proposed Settlement of Class Action, Motion for Attorneys' Fees and Expenses and Settlement Hearing (the "Notice"), and a copy of the Proof of Claim and Release form, you may obtain copies by writing to the Claims Administrator at the address below. Copies of the Notice and Claim Form are also available at www.accretivehealthsecuritieslitigation.com.

To be eligible to participate in the proposed Settlement, you must have purchased or otherwise acquired the common stock of Accretive Health, Inc., purchased or otherwise acquired call options on Accretive Health common stock, or written put options on Accretive Health common stock from May 20, 2010, through December 30, 2014, inclusive, and not be excluded either by definition or by filing a request for exclusion (the "Settlement Class"). Further, to be eligible to participate in the proposed Settlement, you will be required to submit a Proof of Claim and Release postmarked by July 6, 2016 in accordance with the instructions set forth in the Notice.

If you are a member of the Settlement Class and do not exclude yourself, you will be bound by any judgment entered in the Litigation whether or not you make a claim. To exclude yourself from the Settlement Class, you must submit a request for exclusion that is postmarked no later than June 7, 2016, in accordance with the instructions set forth in the Notice.

Any objections to the Settlement, the Plan of Allocation, Lead Counsel's Fee and Expense Award, or the Lead Plaintiff Cost and Expense Award must be filed with the Court and postmarked to counsel identified in the Notice no later than June 7, 2016. All objections must be prepared and submitted in accordance with the instructions set forth in the Notice. If you are a Settlement Class Member and do not submit a proper Proof of Claim and Release form, you will not share in the proceeds of the Settlement but you will nevertheless be bound by any judgments or orders entered by the Court in the Litigation.

This notice provides only a summary of matters regarding the Litigation and the Settlement. A more complete notice has been mailed to persons and entities known to be potential Settlement Class Members regarding the Litigation, the proposed Settlement, and the right of Settlement Class Members to: (i) appear at the Settlement Hearing; (ii) request to be excluded from the Settlement Class; and (iii) object to the Settlement, the Plan of Allocation, Lead Counsel's Fee and Expense Award, or the Lead Plaintiff Cost and Expense Award. You may obtain a copy of the Notice, Proof of Claim and Release form, and other information by writing to the following address or calling the following telephone number:

Accretive Health, Inc. Securities Litigation
c/o Kurtzman Carson Consultants
Claims Administrator
P.O. Box 30208
College Station, TX 77842-3208
(1-844-204-3501)

You may also access these documents from the following website: www.accretivehealthsecuritieslitigation.com.

Inquiries, other than requests for copies of the Notice and Proof of Claim and Release or for inclusion on the mailing list for future notices, may be directed to Joshua L. Crowell, Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, (T) (310) 201-9150, (F) (310) 432-1495, [email protected], www.glancylaw.com.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE

SOURCE Glancy Prongay & Murray LLP

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