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PACS GROUP ALERT: Bragar Eagel & Squire, P.C. is Investigating PACS Group, Inc. on Behalf of PACS Group Stockholders and Encourages Investors to Contact the Firm
PACS Group, Inc.PACS Group, Inc.(US:PACS) GlobeNewswire News Roomยท2024-11-06 02:00

Core Viewpoint - PACS Group, Inc. is under investigation for potential violations of federal securities laws and unlawful business practices following a critical report by Hindenburg Research, which claims the company has been involved in fraudulent activities within the skilled nursing industry [1][2]. Group 1: Investigation and Allegations - Bragar Eagel & Squire, P.C. is investigating potential claims against PACS Group on behalf of its stockholders [1]. - Hindenburg Research's report alleges that PACS Group's turnaround strategy for skilled nursing facilities is primarily based on scamming taxpayer-funded healthcare programs, following a five-month investigation that included interviews with 18 former employees and an analysis of over 900 facility-level cost reports [2]. Group 2: Market Reaction - Following the release of Hindenburg Research's report, PACS Group's stock experienced a significant decline of 27.7% on November 4, 2024 [2].