Core Viewpoint - A class action securities lawsuit has been filed against PACS Group, Inc. alleging securities fraud that adversely affected investors who purchased the company's stock during its initial public offering and subsequent period [2][4]. Group 1: Lawsuit Details - The lawsuit seeks to recover losses for investors who acquired PACS Group's common stock from April 11, 2024, to November 5, 2024 [2]. - Allegations include that the company engaged in a scheme to submit false Medicare claims, which accounted for over 100% of PACS' operating and net income from 2020 to 2023 [2]. - Additional claims involve billing for unnecessary therapies to Medicare and falsifying documentation related to licensure and staffing, leading to materially misleading statements about the company's business and prospects [2]. Group 2: Investor Information - Investors affected by the alleged fraud have until January 13, 2025, to request appointment as lead plaintiff in the lawsuit [7]. - Participation in the lawsuit does not require serving as a lead plaintiff to share in any potential recovery [7].
Shareholders that lost money on PACS Group, Inc. (PACS) Urged to Join Class Action - Contact Levi & Korsinsky to Learn More