PACS Group, Inc.(US:PACS) Prnewswireยท2024-11-22 10:45Core Viewpoint - The Gross Law Firm has announced a class action lawsuit on behalf of shareholders of PACS Group, Inc. due to allegations of fraudulent activities that misled investors regarding the company's financial health and operations [1][3]. Group 1: Class Action Details - The lawsuit is aimed at individuals and entities that purchased PACS Group's common stock during the class period from April 11, 2024, to November 5, 2024 [2]. - Shareholders are encouraged to register for the class action by the deadline of January 13, 2025, to potentially be appointed as lead plaintiffs [4]. Group 2: Allegations Against PACS Group - The complaint alleges that PACS Group engaged in a scheme to submit false Medicare claims, which accounted for over 100% of the company's operating and net income from 2020 to 2023 [3]. - It is claimed that the company billed for unnecessary respiratory and sensory integration therapies to Medicare and falsified documentation related to licensure and staffing [3]. - As a result of these actions, the positive statements made by the company regarding its business and prospects were misleading and lacked a reasonable basis [3]. Group 3: Law Firm's Commitment - The Gross Law Firm is dedicated to protecting the rights of investors affected by deceit and illegal business practices, ensuring companies adhere to responsible business practices [5].