PACS Group, Inc.(US:PACS) Prnewswireยท2024-12-27 14:15Core 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 suffered losses can seek to be appointed as lead plaintiffs by January 13, 2025, through Kessler Topaz Meltzer & Check, LLP or other counsel [4]. - The lead plaintiff represents the interests of all class members and selects counsel to direct the litigation [4]. - Investors have the option to participate actively or remain as absent class members without affecting their ability to share in any recovery [4].