Accretive Execs Face Derivative Suit Over Company's Health

Law360, New York (June 28, 2012, 8:25 PM EDT) -- An Accretive Health Inc. investor launched a derivative suit against the Illinois-based medical billing company's top brass Wednesday, alleging directors and officers issued deceptive statements about its aggressive collection practices and financial outlook, leading to a collapse of its stock price and other damages.

Filed in Illinois Chancery Court by shareholder Jeffrey Goodwin, the complaint claims the 10 named executives, including President and CEO Mary A. Tolan, breached their fiduciary duty by approving statements and corporate filings that misled investors about the soundness of Accretive's corporate...
To view the full article, register now.