Radnor, Pennsylvania. – (NewMediaWire) – December 21, 2024 – The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) has informed investors that a securities class action lawsuit has been filed against PACS Group, Inc. (PACS) (NYSE: PACS). The action is being brought on behalf of investors who have purchased or acquired PACS: 1) common shares pursuant to and/or traceable to the registration statement and prospectus (collectively, the Registration Statement) issued in connection with the initial public offering of PACS on April 11, 2024 (the IPO ); and/or 2) securities between April 11, 2024 and November 5, 2024, inclusive (the “Class Period”). The lead plaintiff deadline is January 13, 2025.
Contact KESSLER TOPAZ MELTZER & CHECK, LLP:
If you experience losses in PACS, you can click here or go to: https://www.ktmc.com/new-cases/pacs-group-inc?utm_source=PR&utm_medium=link&utm_campaign=pacs&mktm=r
You can also contact Attorney Jonathan Nagy, Esq. By calling (484) 270-1453 or via email at info@ktmc.com.
Those accused of misconduct:
The complaint alleges that in the Registration Statement and throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and future prospects. Specifically, Defendants failed to disclose to investors that: (1) PACS engaged in a scheme to submit false Medicare claims that resulted in payment of more than 100% of PACS' operating and net income from 2020 to 2023; (2) the company engaged in a scheme to bill Medicare for thousands of unnecessary respiratory and sensory integration treatments; (3) PACS engaged in a scheme to falsify licensing and employment-related documents; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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Lead Plaintiff Process:
PACS Investors may, no later than January 13, 2025, seek appointment as lead plaintiff representative for the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may elect to do nothing and remain an absent class member. 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. Your ability to participate in any recovery is not affected by the decision of whether or not to serve as lead plaintiff.
Kessler Topaz Meltzer & Check, LLP encourages PACS investors who have incurred significant losses to contact the firm directly for further information.
Click here to register for the case or go to: https://www.ktmc.com/new-cases/pacs-group-inc?utm_source=PR&utm_medium=link&utm_campaign=pacs&mktm=r
About Kessler Topaz Meltzer & Czech LLP:
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts across the country and around the world. The company has earned a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by corporations and credit institutions. The complaints in this action were not brought by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Czech LLP, please visit www.ktmc.com.
communication:
Kessler Topaz Meltzer & Czech, LLP
Jonathan Nagy, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, Pennsylvania 19087
info@ktmc.com
It may be considered an attorney's advertisement in some jurisdictions. Past results do not guarantee future results.
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