Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Accretive Health, Inc.
April 27 2012 - 08:00PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims on behalf of investors of Accretive
Health, Inc. (“Accretive Health” or the “Company”) (NYSE:AH)
concerning possible violations of federal securities laws. The
investigation focuses on allegations that certain statements issued
by Accretive Health between March 2, 2011 and April 24, 2012
regarding the Company’s business and operations were false and
misleading.
Accretive Health provides revenue cycle management services for
hospitals and healthcare providers in the United States, including
integrated revenue cycle management services, quality and total
cost-of-care services and physician advisory services. The
investigation concerns a lawsuit filed in United States District
Court by the Minnesota Attorney General alleging that Accretive
Health violated state and federal health privacy laws, state debt
collection laws, and state consumer protection laws. Among other
things, the lawsuit alleges that Accretive Health gained access to
sensitive patient data through contracts with two Minnesota
hospital systems and numerically scored patients’ risk of
hospitalization and medical complexity, graded their “frailty,”
compiled per-patient profit and loss reports, and identified
patients deemed to be “outliers.” According to a press release
issued by the Minnesota Attorney General announcing the lawsuit,
Accretive Health “found a way to essentially monetize portions of
the revenue and health care delivery systems of some nonprofit
hospitals for Wall Street investors, without the knowledge or
consent of patients who have the right to know how their
information is being used and to have it kept confidential.”
If you purchased Accretive Health securities during the
foregoing period, if you have information or would like to learn
more about these claims, or if you wish to discuss these matters or
have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol
Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at
215-638-4847, Toll Free at 888-638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
www.howardsmithlaw.com.
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