TOP Financial (US:TOP) GlobeNewswire News Roomยท2024-11-23 13:26Core Viewpoint - Rosen Law Firm has filed a class action lawsuit on behalf of purchasers of PACS Group Inc. common stock related to its IPO and subsequent securities, alleging misleading statements and a scheme involving false Medicare claims [1][5]. Group 1: Lawsuit Details - The class action lawsuit pertains to PACS Group Inc. common stock purchased during the IPO on April 11, 2024, and securities acquired between April 11, 2024, and November 5, 2024 [1]. - The lawsuit claims that PACS engaged in a scheme to submit false Medicare claims, which allegedly drove over 100% of the company's operating and net income from 2020 to 2023 [5]. - Allegations include billing for unnecessary therapies and falsifying documentation related to licensure and staffing, leading to materially misleading statements about the company's business and prospects [5]. Group 2: Investor Information - Investors who purchased PACS common stock may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - To join the class action, investors can visit the provided link or contact the law firm directly for more information [3][6]. - A lead plaintiff must move the court by January 13, 2025, to represent other class members in the litigation [1][3]. Group 3: Law Firm Credentials - 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 been consistently ranked among the top firms for securities class action settlements and has recovered hundreds of millions for investors [4].