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 [5][6]. Group 1: Lawsuit Details - The lawsuit is filed in the United States District Court for the Southern District of New York on behalf of investors who purchased PACS common stock during its IPO and the subsequent Class Period [5]. - The lead plaintiff deadline for the lawsuit is set for January 13, 2025 [5][7]. Group 2: Allegations Against PACS - The complaint alleges 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 [6]. - Additional allegations include billing for unnecessary respiratory and sensory integration therapies to Medicare and falsifying documentation related to licensure and staffing [6]. Group 3: Investor Participation - PACS investors have the option to seek appointment as a lead plaintiff representative or remain absent class members, with the lead plaintiff typically being the investor with the largest financial interest [7].

Core Viewpoint - A lawsuit has been filed against PACS Group, Inc. for potential violations of federal securities laws, following allegations of fraudulent practices related to Medicare benefits [13]. Group 1: Lawsuit Details - Investors have until January 13, 2025, to request court appointment to lead the case against PACS Group, Inc. [1] - 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. [1] - The complaint asserts claims under various sections of the Securities Act of 1933 and the Securities Exchange Act of 1934 [1]. Group 2: Allegations Against PACS - Hindenburg Research published a report alleging that PACS abused a COVID-era waiver to inappropriately access Medicare benefits for thousands of patients [2]. - The report claims that this scheme accounted for over 100% of PACS' operating and net income from 2020 to 2023, misleading investors about the company's growth and profitability [2]. - PACS is described as one of the largest operators of skilled nursing facilities in the U.S., with claims of a "turnaround" strategy that was allegedly based on illicit practices [8]. Group 3: Stock Price Impact - Following the allegations, PACS stock experienced a significant decline, falling 27.8% from $42.94 on November 1, 2024, to $31.01 on November 4, 2024 [9]. - The stock price further dropped 38.8% from $29.54 on November 5, 2024, to $18.09 on November 6, 2024 [9]. Group 4: 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 [15].

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 its IPO and subsequent period [1][2]. Summary by Sections Lawsuit Details - The lawsuit is on behalf of investors who purchased PACS common stock during its IPO on April 11, 2024, and securities between April 11, 2024, and November 5, 2024 [1]. - The lead plaintiff deadline for the lawsuit is set for January 13, 2025 [1]. Allegations Against PACS - The complaint alleges that PACS engaged in fraudulent activities, including: 1. Submitting false Medicare claims that accounted for over 100% of PACS' operating and net income from 2020 to 2023 [2]. 2. Billing for unnecessary respiratory and sensory integration therapies to Medicare [2]. 3. Falsifying documentation related to licensure and staffing [2]. - These actions led to materially misleading statements about the company's business and prospects [2]. Investor Information - Kessler Topaz Meltzer & Check, LLP encourages PACS investors who have experienced significant losses to contact the firm for more information [3].

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].