PACS Group, Inc.(PACS)

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PACS Group, Inc Class Action Alert: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against PACS Group, Inc.
GlobeNewswire News Room· 2024-11-23 00:52
Core Viewpoint - A federal securities class action lawsuit has been filed against PACS Group, Inc. following allegations of fraudulent practices that misrepresented the company's financial health and led to significant stock price declines [1][4]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who acquired PACS common stock during its initial public offering on April 11, 2024, and securities between April 11, 2024, and November 5, 2024 [2]. - Investors who incurred losses are encouraged to contact Wolf Haldenstein to potentially become lead plaintiffs in the case, with a deadline for requests set for January 13, 2025 [3]. Group 2: Allegations Against PACS - Hindenburg Research published a report alleging that PACS engaged in fraudulent activities, including submitting false Medicare claims that accounted for over 100% of the company's operating and net income from 2020 to 2023 [4]. - The report claims PACS maintained revenue through unnecessary billing practices and falsified documentation, including misrepresenting the qualifications of staff and manipulating staffing ratios [4]. - Following the report's release, PACS's stock price dropped by $11.93 per share (27.78%) to close at $31.01 on November 4, 2024, and further fell by $11.45 per share (38.76%) to close at $18.09 on November 6, 2024, after the company announced a postponement of its fiscal third quarter earnings release and disclosed federal investigations [4].
Kessler Topaz Meltzer & Check, LLP Reminds PACS Investors of January 13, 2025 Deadline in Securities Fraud Class Action and Urges Investors with Losses to Contact the Firm
GlobeNewswire News Room· 2024-11-22 18:00
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 more than 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 and prospects [3]. Group 2: Legal Process and Investor Information - 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]. - Kessler Topaz Meltzer & Check, LLP encourages affected investors to contact them for more information regarding the lawsuit [5].
PACS INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that PACS Group, Inc. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit
GlobeNewswire News Room· 2024-11-22 16:05
SAN DIEGO, Nov. 22, 2024 (GLOBE NEWSWIRE) -- The law firm of 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, 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 PAC ...
PACS Investors Have Opportunity to Lead PACS Group, Inc. Securities Fraud Lawsuit with the Schall Law Firm
Prnewswire· 2024-11-22 15:43
LOS ANGELES, Nov. 22, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against PACS Group, Inc. ("PACS" or "the Company") (NYSE: PACS) for violations of the federal securities laws.Investors who purchased the Company's securities pursuant and/or traceable to the Company's Offering Documents in connection with its initial public offering ("IPO") conducted on April 11, 2024, or between April 11, 2024 and November 5, 2024, i ...
PACS STOCK NEWS: PACS Group, Inc. Stock Plummeted 27% - Contact BFA Law about the Class Action Lawsuit if You Suffered Losses (NYSE:PACS)
GlobeNewswire News Room· 2024-11-22 12:35
NEW YORK, Nov. 22, 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 ...
PACS Group, Inc. Sued for Securities Law Violations - Investors Should Contact The Gross Law Firm Before January 13, 2025 to Discuss Your Rights - PACS
Prnewswire· 2024-11-22 10:45
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 lawsuit is aimed at individuals and entities that purchased PACS Group's 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 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: Law Firm's Commitment - The Gross Law Firm is dedicated to protecting the rights of investors affected by deceit and illegal business practices, ensuring companies adhere to responsible business practices [5].
PACS Group, Inc. Sued for Securities Law Violations - Contact Levi & Korsinsky Before January 13, 2025 to Discuss Your Rights – PACS
GlobeNewswire News Room· 2024-11-21 18:22
Core Viewpoint - PACS Group, Inc. is facing a class action securities lawsuit due to alleged securities fraud that has adversely affected its investors [1][2]. Class Definition - The lawsuit aims to recover losses for investors who purchased PACS Group's common stock during its initial public offering on April 11, 2024, and those who acquired securities between April 11, 2024, and November 5, 2024 [2]. Case Details - The complaint alleges that PACS Group engaged in fraudulent activities, including: 1. Submitting false Medicare claims that accounted for over 100% of the company's operating and net income from 2020 to 2023 [3]. 2. Billing for unnecessary respiratory and sensory integration therapies to Medicare [3]. 3. Falsifying documentation related to licensure and staffing [3]. 4. Making materially misleading statements about the company's business and prospects [3]. Next Steps - Investors who suffered losses during the relevant timeframe have until January 13, 2025, to request appointment as lead plaintiff, although participation does not require this role [4]. Why Levi & Korsinsky - Levi & Korsinsky has a strong track record in securities litigation, having secured hundreds of millions for shareholders and being recognized as one of the top securities litigation firms in the U.S. for seven consecutive years [5].
Kessler Topaz Meltzer & Check, LLP Encourages PACS Group, Inc. Investors with Losses to Contact the Firm
Prnewswire· 2024-11-21 17:30
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]. Allegations of Misconduct - 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 [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 through Kessler Topaz Meltzer & Check, LLP or other counsel [4]. - A lead plaintiff acts on behalf of all class members and is typically the investor or small group of investors with the largest financial interest [4]. - The decision to serve as a lead plaintiff does not affect an investor's ability to share in any recovery [4].
PACS LAWSUIT ALERT: The Gross Law Firm Notifies PACS Group, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline
Prnewswire· 2024-11-21 10:45
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]. - Additional allegations include billing for unnecessary respiratory and sensory integration therapies to Medicare and falsifying documentation related to licensure and staffing [3]. - As a result of these actions, the company's positive statements about its business and prospects were deemed materially misleading [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].
SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of PACS Group
Prnewswire· 2024-11-21 05:00
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 OptionsIf 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) securit ...