NEW YORK, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in PACS Group, Inc. ("PACS Group, Inc." or the "Company") (NYSE: PACS) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of PACS Group, Inc. investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of persons and entities that purchased or otherwise acquired PACS Group: (a) common stock pursuant and/or traceable to the registration state ...

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].

NEW YORK, Nov. 21, 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=112802&from=4CLASS PERIOD: This lawsuit is on  beh ...

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 ...

Class Action Lawsuit Against PACS Group - Investors with substantial losses have the opportunity to lead a securities fraud class action lawsuit against PACS Group Inc (NYSE: PACS) [1] - The class period for the lawsuit is from April 11, 2024, to November 5, 2024, with a lead plaintiff deadline of January 13, 2025 [1] - Investors are encouraged to contact the Law Offices of Howard G Smith to discuss their legal rights in this class action [1] Allegations Against PACS Group - The complaint alleges that PACS Group engaged in a scheme to submit false Medicare claims, which drove more than 100% of the company's operating and net income from 2020 to 2023 [2] - The company is accused of billing thousands of unnecessary respiratory and sensory integration therapies to Medicare [2] - PACS Group allegedly falsified documentation related to licensure and staffing [2] - As a result, the company's positive statements about its business, operations, and prospects were materially misleading and/or lacked a reasonable basis [2] Participation in the Class Action - To be a member of the class action, no action is required at this time; investors may retain counsel of their choice or remain an absent member [3] - For more information or questions about the class action, investors can contact Howard G Smith, Esquire, of the Law Offices of Howard G Smith [3]

NEW YORK, Nov. 20, 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=112592&from=3  CLASS PERIOD: This lawsuit i ...

NEW YORK, Nov. 20, 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 - The PACS Group, Inc. is facing a class action lawsuit due to allegations of securities fraud related to its initial public offering and subsequent financial practices [1][4][5]. Company Overview - PACS Group operates skilled nursing and assisted living facilities in the United States [3]. IPO Details - PACS Group conducted its IPO on April 11, 2024, issuing approximately 21.4 million shares at an offering price of $21.00 per share, resulting in net proceeds of around $450 million [3]. Allegations of Misconduct - 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 also alleged that PACS Group billed for unnecessary respiratory and sensory integration therapies to Medicare and falsified documentation related to licensure and staffing [4]. Impact of Allegations - Following the publication of a report by Hindenburg Research on November 4, 2024, which highlighted these allegations, PACS Group's stock price fell by more than 27% [5]. - On November 6, 2024, PACS Group announced a postponement of its third quarter 2024 earnings release and disclosed receiving civil investigative demands from the federal government, leading to an additional stock price drop of 38.7% [6]. Legal Process - Investors who purchased PACS Group securities during the class period have until January 13, 2025, to seek appointment as lead plaintiff in the class action lawsuit [1][7].

SAN DIEGO, Nov. 19, 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 ...

LOS ANGELES, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming January 13, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of PACS Group, Inc. (“PACS Group” or the “Company”) (NYSE: PACS) investors who purchased: (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 ...