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]

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of PACS Group, Inc. regarding a class action lawsuit due to alleged fraudulent activities during the company's operations from 2020 to 2023 [1]. Summary by Sections Class Period - The lawsuit pertains to individuals and entities that purchased PACS Group common stock during the class period, which includes shares acquired from the April 11, 2024 initial public offering and securities purchased between April 11, 2024, and November 5, 2024 [3]. Allegations - The complaint alleges that PACS Group engaged in a scheme involving: 1. Submission of false Medicare claims that accounted for over 100% of the company's operating and net income from 2020 to 2023 [4]. 2. Billing for unnecessary respiratory and sensory integration therapies to Medicare [4]. 3. Falsifying documentation related to licensure and staffing [4]. 4. Misleading statements regarding the company's business, operations, and prospects due to the aforementioned activities [4]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by January 13, 2025, to participate in the case without any cost or obligation [5]. Once registered, they will receive updates through a portfolio monitoring software [5]. Law Firm's Commitment - The Gross Law Firm aims to protect investors' rights and ensure companies adhere to responsible business practices, seeking recovery for losses incurred due to misleading statements or omissions that inflated stock prices [6].

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 ...

Core Viewpoint - A class action lawsuit has been filed against PACS Group Inc. for alleged misleading statements and fraudulent activities related to its initial public offering and subsequent securities sales [1][5]. Group 1: Lawsuit Details - 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 [5]. - Allegations include billing for unnecessary respiratory and sensory integration therapies to Medicare and falsifying documentation related to licensure and staffing [5]. - The lawsuit asserts that the positive statements made by PACS regarding its business and operations were materially misleading and lacked a reasonable basis [5]. Group 2: Class Action Participation - Investors who purchased PACS common stock during the IPO or within the class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - Interested parties can join the class action by submitting a form or contacting the law firm directly [3][6]. - A lead plaintiff must be appointed by January 13, 2025, to represent the class in the litigation [1][3]. Group 3: Law Firm Background - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest against a Chinese company at the time [4]. - The firm has consistently ranked among the top firms for securities class action settlements since 2013, recovering hundreds of millions for investors [4].

NEW YORK, Nov. 18, 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 ...

NEW YORK, Nov. 18, 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 - 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]. Group 1: Class Action Lawsuit Details - The class action lawsuit is titled Manchin v. PACS Group, Inc., and it involves purchasers of PACS Group securities between April 11, 2024, and November 5, 2024 [1]. - The lawsuit alleges that PACS Group and its executives made false statements and failed to disclose critical information regarding their financial practices, particularly concerning Medicare claims [4]. - PACS Group conducted its IPO on April 11, 2024, issuing approximately 21.4 million shares at $21.00 per share, raising about $450 million [3]. Group 2: 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 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]. Group 3: Stock Price Impact - Following the allegations, PACS Group announced a postponement of its third-quarter earnings release and disclosed receiving civil investigative demands from the federal government, resulting in an additional stock price decline of 38.7% on November 6, 2024 [6].