Kessler Topaz Meltzer & Check, LLP - PACS Investor Alert: A Securities Fraud Class Action Lawsuit Has Been Filed Against PACS Group, Inc.

Core Viewpoint - A securities class action lawsuit has been filed against PACS Group, Inc. for allegedly making materially false and misleading statements regarding its business operations and financial performance during the class period from April 11, 2024, to November 5, 2024 [1]. Group 1: Allegations Against PACS Group, Inc. - 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 [3]. - It is alleged that PACS billed for thousands of unnecessary respiratory and sensory integration therapies to Medicare [3]. - The company is accused of falsifying documentation related to licensure and staffing, leading to misleading positive statements about its business prospects [3]. Group 2: Legal Process and Investor Actions - Investors who purchased PACS stock during the class period can seek to be appointed as lead plaintiffs by January 13, 2025, or remain absent class members [4]. - The lead plaintiff will represent the interests of all class members and select counsel to direct the litigation [4]. Group 3: Law Firm Information - Kessler Topaz Meltzer & Check, LLP is the law firm handling the case, known for prosecuting class actions and recovering billions for victims of corporate misconduct [5].