Accretive Says Stock Plunge Suit 'Cut, Pasted' Unproven Claims

Law360, New York (December 12, 2012, 3:59 PM EST) -- Medical debt collector Accretive Health Inc. moved to dismiss a proposed shareholder class action Tuesday in Illinois federal court, arguing the plaintiffs' claims were based exclusively on unproven allegations lifted from a resolved lawsuit by the Minnesota attorney general.

The defendant said the complaint, brought by putative lead plaintiff Indiana State Police Benefit System, was built by “cutting and pasting whole swaths” of unproven allegations from the Minnesota lawsuit. Those allegations should not be considered, the motion said, because that suit was settled without an admission...
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