PACS INVESTOR ALERT: PACS Group, Inc. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit

Core Viewpoint - PACS Group, Inc. is facing a class action lawsuit alleging securities fraud related to its initial public offering and subsequent financial practices, with significant claims of misleading statements and fraudulent billing practices [1][4][5]. Company Overview - PACS Group operates skilled nursing and assisted living facilities in the United States [3]. - The company conducted its IPO on April 11, 2024, issuing approximately 21.4 million shares at $21.00 per share, raising about $450 million [3]. Allegations - The lawsuit claims that PACS Group engaged in a scheme to submit false Medicare claims, which allegedly accounted for over 100% of its operating and net income from 2020 to 2023 [4]. - It is further alleged that PACS Group billed for unnecessary therapies and falsified documentation related to licensure and staffing [4]. - A report by Hindenburg Research on November 4, 2024, claimed that PACS Group's growth was driven by fraudulent Medicare billing practices, leading to a stock price drop of over 27% [5]. - Following the report, PACS Group announced a postponement of its third quarter 2024 earnings release and disclosed civil investigative demands from the federal government, resulting in an additional stock price decline of 38.7% [6]. Legal Process - Investors who purchased PACS Group securities during the class period can seek appointment as lead plaintiff in the class action lawsuit, which allows them to represent the interests of other investors [7].