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].

NEW YORK, Nov. 18, 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=112087&from=4CLASS PERIOD: This lawsuit is on  beh ...

RADNOR, Pa., Nov. 16, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs 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. (“PACS”) (NYSE: PACS). The lawsuit is brought on behalf of investors who purchased or otherwise acquired PACS: 1) common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registrati ...

NEW YORK, Nov. 16, 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 - Investors in PACS Group, Inc. have until January 13, 2025, to file lead plaintiff applications in a securities class action lawsuit due to alleged failures in disclosing material information related to the company's IPO and subsequent securities transactions [1][2]. Group 1: Lawsuit Details - The lawsuit against PACS Group, Inc. is based on claims that the company and certain executives failed to disclose material information in the Registration Statement and during the Class Period, violating federal securities laws [2]. - The case is identified as Manchin v. PACS Group, Inc., et al., No. 24-cv-8636 [4]. Group 2: Company Performance and Market Reaction - On November 6, 2024, PACS disclosed receiving civil investigative demands from the federal government regarding its reimbursement and referral practices, leading to a postponement of its 3Q 2024 earnings release [3]. - Following this announcement, PACS' share price dropped by $11.45, or 38.76%, closing at $18.09 per share on November 6, 2024, with unusually high trading volume [3]. Group 3: Investor Support and Resources - ClaimsFiler provides a free service for shareholders to recover funds from securities class action settlements, offering resources such as registration for case information, portfolio data uploads, and free case evaluations from legal experts [4].

NEW YORK, Nov. 15, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of PACS Group Inc. (NYSE: PACS): (i) common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) in connection with the Company’s April 11, 2024 initial public offering ("IPO"); and/or (ii) securities between April 11, 2024 and November 5, 2024, both dates inclusive (the ...

NEW YORK, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against PACS Group, Inc. (“PACS Group” or “the Company”) (NYSE: PACS) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired PACS Group ...