PACS Investors Have Opportunity to Lead PACS Group Inc. Securities Fraud Lawsuit

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].