Core Viewpoint - A class action lawsuit has been filed against PACS Group, Inc. for alleged securities fraud and unlawful business practices, following a report by Hindenburg Research that accused the company of manipulating Medicare claims and falsifying documentation to inflate its financial performance [1][2][3]. Group 1: Allegations and Investigations - Hindenburg Research published a report alleging that PACS abused a COVID-era waiver to submit false Medicare claims, which contributed to over 100% of its operating and net income from 2020 to 2023, misleading investors about its growth and profitability [3]. - The report claimed PACS engaged in unnecessary billing practices for respiratory and sensory integration therapies to Medicare Part B, regardless of clinical need [3]. - Allegations also included falsifying documentation and misrepresenting staffing practices, such as listing unlicensed aides as certified and retroactively adding fake registered nurse hours to meet regulatory requirements [3]. Group 2: Stock Price Impact - Following the release of the Hindenburg report, PACS's stock price dropped by $11.93, or 27.78%, closing at $31.01 per share on November 4, 2024 [3]. - On November 6, 2024, after announcing a postponement of its fiscal third quarter earnings and disclosing federal investigations, PACS's stock fell by $11.45, or 38.76%, closing at $18.09 per share [4]. Group 3: Legal Proceedings - Investors who purchased PACS securities during the class period have until January 13, 2024, to apply to be appointed as Lead Plaintiff in the class action lawsuit [2]. - The lawsuit is being handled by Pomerantz LLP, a firm recognized for its expertise in corporate and securities class litigation [5].

Core Viewpoint - A lawsuit has been filed against PACS Group, Inc. for alleged violations of federal securities laws, following a report by Hindenburg Research that accused the company of fraudulently accessing Medicare benefits, which significantly inflated its financial performance [14][2]. Group 1: Lawsuit Details - Investors have until January 13, 2025, to request court appointment to lead the case against PACS Group, which is pending in the U.S. District Court for the Southern District of New York [1]. - The lawsuit alleges that PACS is one of the largest operators of skilled nursing facilities in the U.S. and falsely claimed to have a successful turnaround strategy, which was actually based on illicitly accessing Medicare benefits [9]. Group 2: Financial Impact - Following the release of the Hindenburg report, PACS stock experienced a significant decline, dropping 27.8% from $42.94 on November 1, 2024, to $31.01 on November 4, 2024, and further falling 38.8% to $18.09 on November 6, 2024 [10]. - Hindenburg estimated that the alleged fraudulent scheme accounted for over 100% of PACS's operating and net income from 2020 to 2023, misleading investors about the company's growth and profitability [2]. Group 3: Company Response - On November 6, 2024, PACS announced a postponement of its Q3 earnings and disclosed that it had received civil investigative demands from the federal government regarding its reimbursement and referral practices, potentially linked to the allegations made in the Hindenburg report [16].

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of PACS Group, Inc. regarding a class action lawsuit due to allegations of fraudulent activities that misled investors [1][3]. Group 1: Class Action Details - The lawsuit is on behalf of individuals and entities that purchased PACS Group common stock during the class period from April 11, 2024, to November 5, 2024 [2]. - Shareholders are encouraged to register for the class action by the deadline of 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 significantly inflated 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: Law Firm's Mission - The Gross Law Firm aims to protect the rights of investors who have suffered losses due to deceit, fraud, and illegal business practices, emphasizing the importance of responsible corporate behavior [5].

Core Viewpoint - PACS Group, Inc. is facing a class action lawsuit alleging securities fraud related to its initial public offering and subsequent financial practices, with significant claims of misleading statements and fraudulent billing practices [1][4][5]. Company Overview - PACS Group operates skilled nursing and assisted living facilities in the United States [3]. - The company conducted its IPO on April 11, 2024, issuing approximately 21.4 million shares at $21.00 per share, raising about $450 million [3]. Allegations - The lawsuit claims that PACS Group engaged in a scheme to submit false Medicare claims, which allegedly accounted for over 100% of its operating and net income from 2020 to 2023 [4]. - It is further alleged that PACS Group billed for unnecessary therapies and falsified documentation related to licensure and staffing [4]. - A report by Hindenburg Research on November 4, 2024, claimed that PACS Group's growth was driven by fraudulent Medicare billing practices, leading to a stock price drop of over 27% [5]. - Following the report, PACS Group announced a postponement of its third quarter 2024 earnings release and disclosed civil investigative demands from the federal government, resulting in an additional stock price decline of 38.7% [6]. Legal Process - Investors who purchased PACS Group securities during the class period can seek appointment as lead plaintiff in the class action lawsuit, which allows them to represent the interests of other investors [7].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased PACS Group Inc. common stock during its IPO and subsequent securities offerings about a class action lawsuit with a lead plaintiff deadline of January 13, 2025 [1][2]. Group 1: Class Action Details - Investors who purchased PACS common stock during the IPO or between April 11, 2024, and November 5, 2024, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties can join by submitting a form or contacting the law firm [3][6]. - The lawsuit claims that PACS engaged in misleading practices, including submitting false Medicare claims that significantly inflated its operating and net income from 2020 to 2023 [5]. Group 2: Allegations Against PACS - The lawsuit alleges that PACS was involved in a scheme to bill for unnecessary therapies to Medicare and falsified documentation related to licensure and staffing [5]. - As a result of these actions, the positive statements made by PACS regarding its business operations were materially misleading [5]. Group 3: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has been consistently ranked among the top firms for securities class action settlements and has recovered hundreds of millions of dollars for investors [4].

Core Viewpoint - A securities class action lawsuit has been filed against PACS Group, Inc. for allegedly making materially false and misleading statements regarding its business operations and financial performance during the Class Period from April 11, 2024, to November 5, 2024 [1][3]. Summary by Relevant Sections Allegations Against Defendants - The lawsuit claims that PACS engaged in fraudulent activities, including submitting false Medicare claims that accounted for over 100% of its operating and net income from 2020 to 2023 [3]. - It is alleged that PACS billed for thousands of unnecessary respiratory and sensory integration therapies to Medicare [3]. - The company is accused of falsifying documentation related to licensure and staffing [3]. - As a result of these actions, the positive statements made by PACS regarding its business and prospects were misleading and lacked a reasonable basis [3]. Lead Plaintiff Process - Investors in PACS have until January 13, 2025, to seek appointment as a lead plaintiff representative of the class [4]. - The lead plaintiff will act on behalf of all class members and select counsel to represent the class [4]. - Participation as a lead plaintiff does not affect the ability to share in any recovery from the lawsuit [4]. Firm Background - Kessler Topaz Meltzer & Check, LLP is known for prosecuting class actions and has a reputation for recovering billions for victims of corporate misconduct [5]. - The firm aims to protect investors and consumers from fraud and negligence by businesses [5].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against PACS Group, Inc. due to allegations of securities law violations related to false statements and misleading practices that significantly impacted the company's financial performance and stock value [2][4]. Group 1: Company Background and Financial Events - PACS Group conducted its IPO on April 11, 2024, selling 21,428,572 shares at $21.00 per share, raising approximately $450 million in net proceeds [5]. - The company later executed a secondary public offering (SPO) on September 3, 2024, issuing 2,777,778 shares at $36.25 per share, generating $100.7 million, while insiders sold 16,256,704 shares for $589.3 million [6]. Group 2: Allegations and Investigations - The complaint against PACS Group alleges that the company engaged in a scheme to submit false Medicare claims, which accounted for over 100% of its operating and net income from 2020 to 2023 [4][7]. - Allegations also include billing for unnecessary therapies and falsifying documentation related to licensure and staffing, which misled investors about the company's operations and prospects [4][7][8]. Group 3: Stock Performance and Market Reaction - Following the release of a report by Hindenburg Research on November 4, 2024, which detailed the alleged misconduct, PACS Group's stock price fell by $11.93, or 27.78%, closing at $31.01 [8]. - On November 6, 2024, the company announced a postponement of its fiscal third quarter earnings release and disclosed receiving civil investigative demands from the federal government, leading to a further decline in stock price by $11.45, or 38.76%, closing at $18.09 [9].

Core Viewpoint - A lawsuit has been filed against PACS Group, Inc. and its senior executives for potential violations of federal securities laws, following allegations of fraudulent practices related to Medicare benefits [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 actually based on illicitly accessing Medicare benefits [3]. - Hindenburg Research published a report alleging that PACS abused a COVID-era waiver to access Medicare benefits for thousands of patients, which they claim drove over 100% of PACS's operating and net income from 2020 to 2023 [4]. Group 3: Stock Price Impact - Following the allegations, PACS's stock price fell significantly, dropping 27.8% from $42.94 on November 1, 2024, to $31.01 on November 4, 2024, and then further declining 38.8% from $29.54 on November 5, 2024, to $18.09 on November 6, 2024 [4].

Core Viewpoint - A securities class action lawsuit has been filed against PACS Group, Inc. for allegedly making materially false and misleading statements regarding its business operations and financial performance during the class period from April 11, 2024, to November 5, 2024 [1]. Group 1: Allegations Against PACS Group, Inc. - The lawsuit claims that PACS engaged in a scheme to submit false Medicare claims, which accounted for over 100% of its operating and net income from 2020 to 2023 [3]. - It is alleged that PACS billed for thousands of unnecessary respiratory and sensory integration therapies to Medicare [3]. - The company is accused of falsifying documentation related to licensure and staffing, leading to misleading positive statements about its business prospects [3]. Group 2: Legal Process and Investor Actions - Investors who purchased PACS stock during the class period can seek to be appointed as lead plaintiffs by January 13, 2025, or remain absent class members [4]. - The lead plaintiff will represent the interests of all class members and select counsel to direct the litigation [4]. Group 3: Law Firm Information - Kessler Topaz Meltzer & Check, LLP is the law firm handling the case, known for prosecuting class actions and recovering billions for victims of corporate misconduct [5].

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].