Philadelphia, Pennsylvania–(Newsfile Corp. – December 21, 2024) – A securities class action lawsuit has been filed against PACS Group, Inc. (“PACS” or the “Company”) (NYSE: PACS). The lawsuit was filed on behalf of the buyers PACS securities between April 8, 2024 and November 21, 2024, inclusive (the “Class Period”)..
Click here To learn more about this lawsuit.
Investors who bought or acquired pax 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.
According to the lawsuit, throughout the Class Period, Defendants failed to disclose that: (a) PACS inflated its Medicare revenues by falsely classifying low-acuity patients as high-acuity patients requiring skilled care in violation of the COVID-era exemption; , thus securing higher repayment rates; and (b) that after the coronavirus-era waiver period expired, PACS inflated its revenues by fraudulently billing for unnecessary treatments and services that were never provided to patients.
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.
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