Philadelphia, Pennsylvania–(Newsfile Corp. – December 30, 2024) – Nationally acknowledged regulation agency Berger Montague PC informs traders {that a} lawsuit was filed in opposition to PACS Group, Inc. (“PACS” or the “Firm”) (NYSE: PACS) on behalf of purchasers of PACS securities between April 8, 2024 and November 21, 2024, inclusive (the “Class Interval”).
Traders that suffered losses from PACS (NYSE: PACS) investments can comply with the hyperlink beneath for extra info relating to the lawsuit:
CLICK HERE to study extra in regards to the lawsuit.
Traders who bought or acquired PACS securities in the course of the Class Interval might, no later than JANUARY 13, 2025, search to be appointed as a lead plaintiff consultant of the category.
Headquartered in Farmington, Utah, PACS operates expert nursing services and post-acute care services within the U.S.
On November 4, 2024, Hindenburg Analysis revealed a report alleging that, amongst different issues, PACS misused COVID waivers to inflate Medicare reimbursements, in addition to partaking in different income practices which misrepresented the Firm’s monetary well being. On this information, PACS’ share value dropped $11.93 per share – 27.8 p.c – to shut at $31.01 per share on November 4, 2024.
Then, on November 6, 2024, the Firm introduced that it will delay the discharge of its third-quarter 2024 monetary outcomes on account of an investigation by the Firm’s Audit Committee into current allegations regarding its reimbursement and referral practices. PACS additionally disclosed that it had acquired civil investigative calls for from the federal authorities relating to these practices. On this information, PACS’ share value dropped $11.45 per share – 38.8 p.c – to shut at $18.09 per share on November 6, 2024.
For extra info or to discover ways to take part on this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.web or (215) 875-3015, or Peter Hamner at phamner@bm.web, or CLICK HERE.
A lead plaintiff is a consultant get together who acts on behalf of all class members in directing the litigation. The lead plaintiff is often the investor or small group of traders who’ve the biggest monetary curiosity and who’re additionally enough and typical of the proposed class of traders. The lead plaintiff selects counsel to signify the lead plaintiff and the category and these attorneys, if permitted by the court docket, are lead or class counsel. Your potential to share in any restoration just isn’t, nonetheless, affected by the choice whether or not or to not function a lead plaintiff. Speaking with any counsel just isn’t essential to take part or share in any restoration achieved on this case. Any member of the purported class might transfer the Court docket to function a lead plaintiff via counsel of his/her selection, or might select to do nothing and stay an inactive class member.
Berger Montague, with workplaces in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class motion litigation since its founding in 1970. Berger Montague has represented particular person and institutional traders for over 5 a long time and serves as lead counsel in courts all through the USA.
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