Core Viewpoint - The Gross Law Firm has announced a class action lawsuit on behalf of shareholders of PACS Group, Inc. due to allegations of fraudulent activities that misled investors regarding the company's financial health and operations [1][3]. Group 1: Class Action Details - The class action is for individuals and entities that purchased PACS Group common stock during the initial public offering on April 11, 2024, and between April 11, 2024, and November 5, 2024 [2]. - Shareholders are encouraged to register for the class action by January 13, 2025, to potentially be appointed as lead plaintiffs [4]. Group 2: Allegations Against PACS Group - The complaint alleges that PACS Group engaged in a scheme to submit false Medicare claims, which accounted for over 100% of the company's operating and net income from 2020 to 2023 [3]. - It is claimed that the company billed for unnecessary respiratory and sensory integration therapies to Medicare and falsified documentation related to licensure and staffing [3]. - As a result of these actions, the positive statements made by the company regarding its business and prospects were misleading and lacked a reasonable basis [3]. Group 3: Legal Representation - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights and ensuring companies adhere to responsible business practices [5].

NEW YORK, Dec. 04, 2024 (GLOBE NEWSWIRE) -- 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=114513&from=3 CLASS PERIOD: This lawsuit is ...

NEW YORK, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against PACS Group, Inc. (NYSE: PACS) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in PACS, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases-investigations/pacs-group-inc. Investors have until January 13, 2025, to ask the Court to be appointed to lead t ...

PHILADELPHIA, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Berger Montague PC advises investors that a securities class action lawsuit has been filed against PACS Group, Inc. (“PACS” or the “Company”) (NYSE: PACS) on behalf of purchasers of PACS securities between April 8, 2024 through November 21, 2024, inclusive (the “Class Period”). Investor Deadline: Investors who purchased or acquired PACS securities during the Class Period may, no later than JANUARY 13, 2025, seek to be appointed as a lead plaintiff representati ...

SAN DIEGO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired PACS Group, Inc. (NYSE: PACS) (a) common stock in connection with the Company's April 11, 2024 initial public offering ("IPO"), or (b) securities between April 11, 2024 and November 5, 2024. PACS Group, through its subsidiaries, operates senior care facilities, skilled nursing facilities, and assisted living facilities in the Unit ...

RADNOR, Pa., Dec. 3, 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 of ...

SAN DIEGO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of PACS Group, Inc. (NYSE: PACS): (i) securities between April 11, 2024 and November 5, 2024, all dates inclusive (the “Class Period”); and/or (ii) common stock pursuant and/or traceable to PACS Group’s registration statement issued in connection with PACS Group’s April 11, 2024 initial public offering (“IPO”), have until January 13, 2025 to seek appointment as lead plaintiff of the PACS Grou ...

NEW YORK, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against PACS Group, Inc. (NYSE: PACS) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in PACS, you are encouraged to obtain additional information by visiting: https://www.bfalaw.com/cases-investigations/pacs-group-inc. Investors have until January 13, 2025, to ask the Court to be appointed to lead t ...

Core Viewpoint - A lawsuit has been filed against PACS Group, Inc. and its senior executives for potential violations of federal securities laws, with claims related to misleading representations about the company's profitability and turnaround strategy [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, which allegedly accounted for over 100% of the company's operating and net income from 2020 to 2023 [4]. Group 3: Stock Price Impact - Following the allegations, PACS's stock price experienced significant declines: a drop of 27.8% from $42.94 to $31.01 on November 4, 2024, and a further decline of 38.8% from $29.54 to $18.09 on November 6, 2024 [4].

Core Viewpoint - A class action lawsuit has been filed against PACS Group, Inc. for violations of federal securities laws related to misleading statements and fraudulent activities during its IPO and subsequent period [1][5]. Group 1: Lawsuit Details - The lawsuit is initiated by the Schall Law Firm, targeting PACS Group, Inc. for allegedly making false and misleading statements to the market [1][5]. - Investors who purchased PACS securities during the IPO on April 11, 2024, or between April 11, 2024, and November 5, 2024, are encouraged to contact the firm [2]. - The class period for the lawsuit has not yet been certified, meaning potential class members are not yet represented by an attorney [4]. Group 2: Allegations Against PACS - The complaint alleges that PACS engaged in a fraudulent Medicare claim scheme, which accounted for over 100% of its operating and net income from 2020 to 2023 [5]. - The company is accused of billing Medicare for thousands of unnecessary therapies and falsifying documentation related to licensure and staffing [5]. - As a result of these actions, PACS's public statements were deemed false and materially misleading, leading to investor damages when the truth was revealed [5].