PACS Group Class Action: Investors are Alerted the Company has been Sued for Fraud – Contact BFA Law by the January 13 Court Deadline (NYSE:PACS)

Core Viewpoint - A lawsuit has been filed against PACS Group, Inc. and its senior executives for potential violations of federal securities laws, alleging misconduct related to the company's financial practices and Medicare benefits access [1][2][3]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Southern District of New York, titled Manchin v. PACS Group, Inc., et al., No. 24-cv-08636 [2]. - Investors have until January 13, 2025, to request to lead the case [2]. Group 2: Allegations Against PACS - PACS is alleged to be one of the largest operators of skilled nursing facilities in the U.S., claiming to have a successful turnaround strategy that was, in reality, based on illicitly accessing Medicare benefits for thousands of patients [3]. - A report by Hindenburg Research accused PACS of abusing a COVID-era waiver to improperly access Medicare benefits, estimating that this scheme accounted for over 100% of PACS's operating and net income from 2020 to 2023, which facilitated its IPO in early 2024 [4]. Group 3: Stock Price Impact - Following the allegations and the announcement of civil investigative demands from the federal government, PACS's stock price experienced significant declines: a drop of 27.8% on November 4, 2024, and a further decline of 38.8% on November 6, 2024 [4].