Accretive Health To Pay Millions To Resolve Investor Suit

Law360, New York (September 27, 2013, 4:19 PM EDT) -- Accretive Health Inc. agreed Thursday to pay millions to settle a class action in Illinois federal court accusing the medical debt collection agency of promoting a positive forecast to shareholders until a news report alleging unlawful collection tactics caused stock prices to plummet.

The suit was filed in April 2012 by investor Linda Wong, who argued that Mary A. Tolan, the company's CEO, and John T. Staton, the chief financial officer, repeatedly delivered deceptive statements that pumped up Accretive's stock price while concealing the fact that...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Wong v. Accretive Health, Inc. et al


Case Number

1:12-cv-03102

Court

Illinois Northern

Nature of Suit

850(Securities/Commodities)

Judge

Honorable Sharon Johnson Coleman

Date Filed

April 26, 2012

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.