Core Viewpoint - Investors in PACS Group, Inc. have the opportunity to lead a securities fraud class action lawsuit due to alleged fraudulent activities by the company [1][2]. Summary by Relevant Sections Lawsuit Details - The lawsuit alleges that between April 11, 2024, and November 5, 2024, PACS Group engaged in a scheme to submit false Medicare claims, which accounted for more than 100% of the company's operating and net income from 2020 to 2023 [2]. - The company is accused of billing Medicare for thousands of unnecessary respiratory and sensory integration therapies [2]. - Allegations also include falsifying documentation related to licensure and staffing [2]. - As a result of these actions, the positive statements made by the company regarding its business, operations, and prospects were materially misleading and lacked a reasonable basis [2]. Participation Information - Investors who suffered losses related to PACS Group are encouraged to participate in the ongoing securities fraud lawsuit before the lead plaintiff deadline of January 13, 2025 [2]. - Interested parties can contact the Law Offices of Frank R. Cruz for more information on participation [3][4].

Core Viewpoint - A lawsuit has been filed against PACS Group, Inc. for alleged financial misconduct during a specified class period, following significant drops in share price due to negative reports and investigations [1][3][4]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who purchased PACS securities between April 8, 2024, and November 21, 2024 [1][2]. - Investors can seek to be appointed as lead plaintiff representatives by January 13, 2025 [2]. Group 2: Allegations and Financial Impact - Hindenburg Research published a report on November 4, 2024, alleging that PACS misused COVID waivers to inflate Medicare reimbursements, leading to a share price drop of $11.93, or 27.8%, closing at $31.01 [3]. - Following the report, PACS announced a delay in its third-quarter 2024 financial results due to an investigation into its reimbursement practices, resulting in a further share price drop of $11.45, or 38.8%, closing at $18.09 [4]. Group 3: Company Background - PACS is headquartered in Farmington, Utah, and operates skilled nursing and post-acute care facilities in the U.S. [2].

Core Viewpoint - A lawsuit has been filed against PACS Group, Inc. and its senior executives for potential violations of federal securities laws, alleging misconduct related to the company's financial practices and Medicare benefits access [1][2][3]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Southern District of New York, titled Manchin v. PACS Group, Inc., et al., No. 24-cv-08636 [2]. - Investors have until January 13, 2025, to request to lead the case [2]. Group 2: Allegations Against PACS - PACS is alleged to be one of the largest operators of skilled nursing facilities in the U.S., claiming to have a successful turnaround strategy that was, in reality, based on illicitly accessing Medicare benefits for thousands of patients [3]. - A report by Hindenburg Research accused PACS of abusing a COVID-era waiver to improperly access Medicare benefits, estimating that this scheme accounted for over 100% of PACS's operating and net income from 2020 to 2023, which facilitated its IPO in early 2024 [4]. Group 3: Stock Price Impact - Following the allegations and the announcement of civil investigative demands from the federal government, PACS's stock price experienced significant declines: a drop of 27.8% on November 4, 2024, and a further decline of 38.8% on November 6, 2024 [4].

Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Jan. 02, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises PACS Group, Inc. ("PACS Group" or the "Company") (NYSE: PACS) investors of a class action representing investors that bought securities between April 11, 2024 and November 05, 2024, inclusive (the "Class Period"). PACS Group investors have until January 13, 2025 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesle ...

NEW YORK, Dec. 30, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of PACS Group, Inc. (NYSE: PACS).Shareholders who purchased shares of PACS during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/pacs-group-inc-loss-submission-form/?id=118943&from=4CLASS PERIOD: This lawsuit is on beha ...

Lawsuit Details - A securities class action lawsuit has been filed against PACS Group, Inc in the United States District Court for the Southern District of New York [1] - The lawsuit is on behalf of investors who purchased or acquired PACS common stock pursuant to the Registration Statement issued in connection with PACS' April 11, 2024 IPO and/or securities between April 11, 2024 and November 5, 2024 [1] - The lead plaintiff deadline is January 13, 2025 [1] Allegations - Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about PACS' business, operations, and prospects [9] - PACS engaged in a scheme to submit false Medicare claims which drove more than 100% of PACS' operating and net income from 2020 – 2023 [9] - The company engaged in a scheme to bill thousands of unnecessary respiratory and sensory integration therapies to Medicare [9] - PACS engaged in a scheme to falsify documentation related to licensure and staffing [9] - Defendants' positive statements about the company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis [9] Lead Plaintiff Process - PACS investors may seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel by January 13, 2025 [11] - The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors [11] - The lead plaintiff selects counsel to represent the lead plaintiff and the class [11] - The ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff [11]

RADNOR, Pa., Dec. 27, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against PACS Group, Inc. ("PACS") (NYSE: PACS). The lawsuit is brought on behalf of investors who purchased or otherwise acquired PACS: 1) common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") issued in connection with PACS' April 11, 2024 initial public o ...

Core Viewpoint - A class action securities lawsuit has been filed against PACS Group, Inc. alleging securities fraud that adversely affected investors who purchased the company's stock during its initial public offering and subsequent period [2][4]. Group 1: Lawsuit Details - The lawsuit seeks to recover losses for investors who acquired PACS Group's common stock from April 11, 2024, to November 5, 2024 [2]. - Allegations include that the company engaged in a scheme to submit false Medicare claims, which accounted for over 100% of PACS' operating and net income from 2020 to 2023 [2]. - Additional claims involve billing for unnecessary therapies to Medicare and falsifying documentation related to licensure and staffing, leading to materially misleading statements about the company's business and prospects [2]. Group 2: Investor Information - Investors affected by the alleged fraud have until January 13, 2025, to request appointment as lead plaintiff in the lawsuit [7]. - Participation in the lawsuit does not require serving as a lead plaintiff to share in any potential recovery [7].

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In PACS Group To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 in PACS Group between (a) common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s April 11, 2024 initial public offering (“IPO” or the “Offering”); and/or (b) all pe ...

Core Viewpoint - A lawsuit has been filed against PACS Group, Inc. and its senior executives for potential violations of federal securities laws, alleging that the company misrepresented its financial health and turnaround strategy to shareholders [1][3]. Group 1: Lawsuit Details - The lawsuit claims that PACS, a major operator of skilled nursing facilities in the U.S., falsely represented its turnaround strategy as successful while actually relying on illicit access to Medicare benefits for thousands of patients [2][3]. - Investors have until January 13, 2025, to request to lead the case, which is pending in the U.S. District Court for the Southern District of New York [3]. Group 2: Impact of Hindenburg Research Report - On November 4, 2024, Hindenburg Research published a report alleging that PACS abused COVID-era waivers to access Medicare benefits, which they claim accounted for over 100% of PACS's operating and net income from 2020 to 2023 [4]. - Following the report, PACS's stock price dropped significantly, falling 27.8% from $42.94 to $31.01 per share on November 4, 2024, and then another 38.8% from $29.54 to $18.09 per share on November 6, 2024 [4]. Group 3: Company Response - On November 6, 2024, PACS announced the postponement of its Q3 earnings and disclosed that it had received civil investigative demands from the federal government regarding its reimbursement and referral practices [11].