Core Viewpoint - A lawsuit has been filed against PACS Group, Inc. for alleged financial misconduct during a specified class period, following significant drops in share price due to negative reports and investigations [1][3][4]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who purchased PACS securities between April 8, 2024, and November 21, 2024 [1][2]. - Investors can seek to be appointed as lead plaintiff representatives by January 13, 2025 [2]. Group 2: Allegations and Financial Impact - Hindenburg Research published a report on November 4, 2024, alleging that PACS misused COVID waivers to inflate Medicare reimbursements, leading to a share price drop of $11.93, or 27.8%, closing at $31.01 [3]. - Following the report, PACS announced a delay in its third-quarter 2024 financial results due to an investigation into its reimbursement practices, resulting in a further share price drop of $11.45, or 38.8%, closing at $18.09 [4]. Group 3: Company Background - PACS is headquartered in Farmington, Utah, and operates skilled nursing and post-acute care facilities in the U.S. [2].
PACS GROUP (NYSE: PACS) CLASS ACTION DEADLINE APPROACHING: Berger Montague Advises Investors to Inquire About a Securities Fraud Class Action by January 13, 2025