PACS Group, Inc. Investors with significant losses have the opportunity to file a class action lawsuit against Investing.com

San Diego, CA–(Newsfile Corp. – December 14, 2024) – Law Firm Robbins Geller Rudman & Dowd LLP announces that the purchasers or acquirers of PACS Group, Inc. (NOT: PACS): (i) securities between April 11, 2024 and November 5, 2024, inclusive of all dates (the “Class Period”); and/or (ii) common shares pursuant to and/or traceable to PACS Group’s registration statement issued in connection with PACS Group’s April 11, 2024 initial public offering (“IPO”), have a term of January 13 2025 to seek appointment as the chief prosecutor of the PACS Group class action lawsuit. Written Manchin v. PACS Group, Inc.no. 24-cv-08636 (SDNI), the PACS Group the class action charges PACS Group, as well as certain of PACS Group’s top executives, directors and certain underwriters of the IPO, with violations of the Securities Act of 1933 and/or the Securities Exchange Act of 1934.

If you have suffered significant losses and want to be a lead prosecutor PACS Group class action, enter your information here:

https://vvv.rgrdlav.com/cases-pacs-group-inc-class-action-lavsuit-pacs.html

You can also contact lawyers J.C. Sanchez or Jennifer N. Caringal Robbins Geller by calling 800/449-4900 or by email at info@rgrdlav.com.

CASE STATEMENTS: The PACS Group, through its subsidiaries, operates skilled nursing facilities and assisted living facilities in the United States. According to PACS Group class action lawsuit, on or about April 11, 2024, PACS Group conducted its IPO, issuing approximately 21.4 million shares of common stock to the public at an offering price of $21.00 per share for net proceeds of approximately $450 million PACS group.

The PACS Group the class action alleges that throughout the period and in the IPO offering documents the defendants made false and/or misleading statements and/or failed to disclose that: (i) PACS Group engaged in a “scheme” to submit false Medicare claims that “ brought in more than 100% of PACS’s operating and net income from 2020 to 2023″; (ii) a PACS group engaged in a “scheme” to bill “thousands of unnecessary respiratory and sensory integration therapies to Medicare”; and (iii) a PACS group involved in a scheme to falsify documentation related to licensing and personnel.

The PACS Group The class action further alleges that on November 4, 2024, Hindenburg Research released a report stating, among other things, that “PACS growth from 2020 to 2023 was driven by a Medicare COVID-era billing scheme that led to more of 100% Operating and net income PACS during the period.” On this news, PACS Group’s share price fell by more than 27 percent, according to the complaint.

Then on November 6, 2024 PACS Group The class action lawsuit further states that PACS Group announced that it will delay its third quarter 2024 earnings release and further disclosed that PACS Group “has received civil investigative requests from the federal government regarding (PACS Group’s) reimbursement and referral practices that may or may not in a relationship with this week’s third-party report.” On the news, PACS Group’s share price fell an additional 38.7 percent, according to the complaint.

PROSECUTOR’S LEADING PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired securities of PACS Group during the Class Period and/or common stock pursuant to and/or traceable to the IPO to request appointment as chief prosecutor in PACS Group class action lawsuit. The lead plaintiff is generally the one with the greatest financial interest in the relief sought by the putative class that is also typical and adequate for the putative class. The lead plaintiff acts on behalf of all other class members in the administration PACS Group class action lawsuit. The lead prosecutor may select a law firm of his choice to litigate the case PACS Group class action lawsuit. An investor’s ability to participate in any potential future recovery is not dependent on whether it serves as the lead plaintiff PACS Group class action lawsuit.

ABOUT ROBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our firm was #1 in the ISS securities class Action (VA:) Ranking services for six of the last ten years for providing the greatest cash relief to investors. We have won $6.6 billion for investors in securities class action cases – over $2.2 billion more than any other law firm in the past four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have achieved many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – 7.2 billions of dollars – in In re Enron Corp. Sec. Litig. Visit the following page for more information:

https://vvv.rgrdlav.com/services-litigation-security-fraud.html

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To view the original version of this press release, visit https://www.nevsfilecorp.com/release/233701