Philadelphia, Pennsylvania–(Newsfile Corp. – December 22, 2024) – Nationally recognized law firm Berger Montague PC has informed investors that a lawsuit has been filed against PACS Group, Inc. (“PACS” or the “Company”) (NYSE: PACS) ) on behalf of the purchasers pax Securities between April 8, 2024 and November 21, 2024, inclusive (the “Class Period”)..
Investors who suffered losses from PACS (NYSE: PACS) investments can follow the link below for more information regarding the lawsuit:
Click here To learn more about the lawsuit.
Investors who purchased or acquired PACS securities during the Class Period may, no later than January 13, 2025seeks to be appointed as lead plaintiff representative for the class.
Headquartered in Farmington, Utah, PACS operates skilled nursing and post-acute care facilities in the United States.
On November 4, 2024, Hindenburg Research published a report alleging, among other things, that PACS abused coronavirus exemptions to inflate Medicare reimbursements, as well as engaging in other revenue practices that distorted the company's financial health. On this news, PACS stock price fell by $11.93 per share – 27.8 percent – To close at $31.01 per share on November 4, 2024.
Subsequently, on November 6, 2024, the company announced that it would delay the release of its third-quarter 2024 financial results due to the company's audit committee's investigation into recent allegations related to reimbursement and referral practices. PACS also disclosed that it has received civil investigative requests from the federal government regarding these practices. On this news, PACS stock price fell by $11.45 per share – 38.8 percent – To close at $18.09 per share on November 6, 2024.
For additional information or to learn how to participate in this lawsuit, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at famner@bm.netor Click here.
A lead plaintiff is a representative party acting on behalf of all class members in directing the lawsuit. The lead plaintiff is usually the investor or a small group of investors who have the largest financial interest and who are also considered appropriate and typical of the proposed class of investors. The lead plaintiff selects an attorney to represent the lead plaintiff and the class and those attorneys, if approved by the court, are the lead attorneys or the class. However, your ability to participate in any recovery is not affected by the decision of whether or not to serve as lead plaintiff. Communication with any attorney is not necessary to participate or contribute to any recovery achieved in this case. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choosing, or they may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a leader in securities class action lawsuits since its founding in 1970. Berger Montague has represented individual and institutional investors for more than five years. contracts and serves as lead attorney in courts throughout the United States.
Contacts:
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