Philadelphia, Pennsylvania–(Newsfile Corp. – December 22, 2024) – Nationally recognized law firm Berger Montague PC informs investors that a lawsuit has been filed against PACS Group, Inc. (“PACS” or the “Company”) (NYSE: PACS). was submitted ) on behalf of the buyers of PACS Securities between April 8, 2024 and November 21, 2024 (including the “Class Period”).
Investors who suffered losses from PACS (NYSE:PACS) investments can follow the following link for more information about the lawsuit:
CLICK HERE to learn more about the lawsuit.
Investors who purchased or acquired PACS securities during the Class Period can do so at the latest JANUARY 13, 2025are seeking appointment as lead plaintiff counsel for the class.
PACS is headquartered in Farmington, Utah, and operates skilled nursing and post-acute care facilities across the United States
On November 4, 2024, Hindenburg Research released a report alleging, among other things, that PACS misused COVID waivers to increase Medicare reimbursements and engaged in other revenue practices that misjudged the company’s financial health represented. On this news, PACS’s stock price fell $11.93 per share – 27.8 percent – Closing price on November 4, 2024 at $31.01 per share.
Then, on November 6, 2024, the Company announced that it would postpone the release of its third quarter 2024 financial results due to an investigation by the Company’s Audit Committee into recent allegations regarding its reimbursement and remittance practices. PACS also announced that it had received civil investigative requests from the federal government regarding these practices. On this news, PACS’s stock price fell $11.45 per share – 38.8 percent – Closing price on November 6, 2024 at $18.09 per share.
For more information or to learn how to participate in this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.netor CLICK HERE.
A lead plaintiff is a representative party acting on behalf of all class members in directing the litigation. The lead plaintiff is typically the investor or small group of investors that has the greatest financial interest and is also appropriate and typical of the proposed class of investors. The lead plaintiff shall select counsel to represent the lead plaintiff and the class, and such attorneys, if approved by the court, shall be lead or class counsel. However, your ability to participate in the recovery will not be affected by the decision whether or not to serve as lead plaintiff. Communication with legal counsel is not necessary to attend or participate in the recovery achieved in this case. Any member of the purported class may request the Court to serve as lead plaintiff through counsel of their choice, or may elect to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, DC, San Diego, San Francisco, and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented retail and institutional investors for over five years and has served as senior counsel in courts throughout the United States for decades.
Contacts:
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234880
