Lead Plaintiff Deadline is Approaching - Act Now

PACS Group, Inc.® Shareholder Class Action

Manchin v. PACS Group, Inc. et al.

PACS Group®

NASDAQ: PACS

Class Period : 04/08/2024 - 11/05/2024

Lead Plaintiff Motion Deadline: 1/13/2025

PACS Group, Inc.® Shareholder Class Action

The PACS Group, Inc.® class action lawsuit alleges the company misled investors during its April 2024 IPO and beyond by providing false and incomplete information. A report by Hindenburg Research exposed fraudulent Medicare claims, unnecessary billing for medical therapies, falsified staffing and licensure records, and other deceptive practices that artificially inflated the company’s financial health. PACS Group's® stock dropped nearly 67% following these revelations over two days, causing significant investor losses. The lawsuit claims the company violated securities laws by failing to disclose these practices, leaving shareholders who relied on its public statements eligible to seek compensation for damages.

Alleged Misstatements and Omissions

PACS Group, Inc.® is accused of misleading investors through false and incomplete information during its IPO and business operations. The company raised approximately $450 million from its April 2024 IPO by selling shares at $21 each, creating an image of profitability and growth.  

However, a November 2024 report by Hindenburg Research uncovered serious allegations, including:  

  • Medicare Fraud: Submitting false claims to inflate operating and net income from 2020 to 2023.  
  • Unnecessary Medical Billing: Billing Medicare Part B for treatments like respiratory therapy without regard for clinical need.  
  • Licensure Violations: Using unlicensed administrators or overstretching staff beyond regulatory limits.  
  • Staffing Misrepresentation: Listing uncertified nurse aides as certified and retroactively falsifying registered nurse hours to meet minimum staffing requirements.  

These actions allegedly misled investors about the company's financial health and operational integrity.  

Effects on Stock Prices  

The fallout from these revelations has caused PACS Group's® stock to plummet, inflicting significant losses on shareholders:  

  • November 4, 2024: After the release of the Hindenburg report, the stock dropped 28%, closing at $31.01, with heavy trading volume.
  • November 6, 2024: Following the announcement of postponed earnings and federal investigations, the stock plunged another 39%, closing at $18.09.  

These declines reflect the financial impact of PACS Group's® alleged misconduct and the growing uncertainty about the company's future. Shareholders who relied on PACS Group's public disclosures may have suffered substantial losses.  

Legal Rights for Affected Shareholders  

Investors who purchased PACS Group® stock during the impacted period may have legal rights to recover their losses. Under securities laws, companies must provide accurate and honest information to the public. PACS Group® allegedly failed to meet this obligation.  

You may qualify for legal action if you:  

  1. Purchased PACS Group® shares during or after its April 2024 IPO.  
  2. Relied on the company's statements when making investment decisions.  
  3. Experienced financial losses as a result of the stock's sharp decline.  

Joining a class action lawsuit helps hold companies accountable for misrepresentation and can provide compensation for damages.  

Take Action Today  

Time is critical in class action lawsuits. Missing filing deadlines could prevent you from recovering damages. Acting quickly increases your chances of receiving fair compensation for your losses.  

Here's how to protect your rights:  

  1. Gather records of your PACS Group® stock transactions and losses.  
  2. Contact an experienced securities attorney to evaluate your case.  
  3. Join the class action lawsuit to seek justice for corporate misconduct.  

Taking action now ensures you take advantage of your opportunity to recover potential losses and make your voice heard.

iStock-15

Contact DiCello Levitt Today To Explore Your Legal Options

At DiCello Levitt, we protect investors harmed by corporate misconduct. Our team has the experience and resources to take on powerful companies like PACS Group® and fight for justice.  

You could be compensated if you invested in PACS Group® and suffered financial losses. We offer a free, private case evaluation to assess the strength of your claim and guide you through the legal process.  

Don't let corporate fraud jeopardize your financial future. Contact us today to explore your options and join the fight for shareholder rights. Request your free case evaluation to pursue the justice and compensation you deserve.  

All victims affected by PACS Group, Inc.®'s alleged deceptive practices, and failure to meet basic compliance standards should receive justice and potential compensation, beginning with a free, private case review with our experienced legal team.

The Importance of Joining a Class Action

Class action lawsuits can provide an efficient mechanism to compensate injured victims, hold wrongdoers accountable, or affect how a company or an industry operates.  Class actions allow injured parties to come together and take on larger adversaries.  By leveraging the power of a group class members the class can match the resources of a corporate defendant and put the parties on equal footing.

If you have been adversely affected by corporate misconduct, you may join DiCello Levitt’s class action lawsuit and help hold the wrongdoers responsible for their alleged misconduct, potentially recover your financial losses, and contribute to enforcing higher ethical, governance, and compliance standards.  Your participation can make a difference.

To learn more about how to join the lawsuit and your potential eligibility, please contact DiCello Levitt.  DiCello Levitt is committed to representing the interests of all affected parties and pursuing justice in this significant case.

Find Out if You may be a Member
of the Class

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PACS Group, Inc.® Shareholder Class Action

Manchin v. PACS Group, Inc. et al.

PACS Group®

NASDAQ: PACS

Class Period : 04/08/2024 - 11/05/2024

Lead Plaintiff Motion Deadline: 1/13/2025

PACS Group, Inc.® Shareholder Class Action

The PACS Group, Inc.® class action lawsuit alleges the company misled investors during its April 2024 IPO and beyond by providing false and incomplete information. A report by Hindenburg Research exposed fraudulent Medicare claims, unnecessary billing for medical therapies, falsified staffing and licensure records, and other deceptive practices that artificially inflated the company’s financial health. PACS Group's® stock dropped nearly 67% following these revelations over two days, causing significant investor losses. The lawsuit claims the company violated securities laws by failing to disclose these practices, leaving shareholders who relied on its public statements eligible to seek compensation for damages.

Alleged Misstatements and Omissions

PACS Group, Inc.® is accused of misleading investors through false and incomplete information during its IPO and business operations. The company raised approximately $450 million from its April 2024 IPO by selling shares at $21 each, creating an image of profitability and growth.  

However, a November 2024 report by Hindenburg Research uncovered serious allegations, including:  

  • Medicare Fraud: Submitting false claims to inflate operating and net income from 2020 to 2023.  
  • Unnecessary Medical Billing: Billing Medicare Part B for treatments like respiratory therapy without regard for clinical need.  
  • Licensure Violations: Using unlicensed administrators or overstretching staff beyond regulatory limits.  
  • Staffing Misrepresentation: Listing uncertified nurse aides as certified and retroactively falsifying registered nurse hours to meet minimum staffing requirements.  

These actions allegedly misled investors about the company's financial health and operational integrity.  

Effects on Stock Prices  

The fallout from these revelations has caused PACS Group's® stock to plummet, inflicting significant losses on shareholders:  

  • November 4, 2024: After the release of the Hindenburg report, the stock dropped 28%, closing at $31.01, with heavy trading volume.
  • November 6, 2024: Following the announcement of postponed earnings and federal investigations, the stock plunged another 39%, closing at $18.09.  

These declines reflect the financial impact of PACS Group's® alleged misconduct and the growing uncertainty about the company's future. Shareholders who relied on PACS Group's public disclosures may have suffered substantial losses.  

Legal Rights for Affected Shareholders  

Investors who purchased PACS Group® stock during the impacted period may have legal rights to recover their losses. Under securities laws, companies must provide accurate and honest information to the public. PACS Group® allegedly failed to meet this obligation.  

You may qualify for legal action if you:  

  1. Purchased PACS Group® shares during or after its April 2024 IPO.  
  2. Relied on the company's statements when making investment decisions.  
  3. Experienced financial losses as a result of the stock's sharp decline.  

Joining a class action lawsuit helps hold companies accountable for misrepresentation and can provide compensation for damages.  

Take Action Today  

Time is critical in class action lawsuits. Missing filing deadlines could prevent you from recovering damages. Acting quickly increases your chances of receiving fair compensation for your losses.  

Here's how to protect your rights:  

  1. Gather records of your PACS Group® stock transactions and losses.  
  2. Contact an experienced securities attorney to evaluate your case.  
  3. Join the class action lawsuit to seek justice for corporate misconduct.  

Taking action now ensures you take advantage of your opportunity to recover potential losses and make your voice heard.

iStock-15

Contact DiCello Levitt Today To Explore Your Legal Options

At DiCello Levitt, we protect investors harmed by corporate misconduct. Our team has the experience and resources to take on powerful companies like PACS Group® and fight for justice.  

You could be compensated if you invested in PACS Group® and suffered financial losses. We offer a free, private case evaluation to assess the strength of your claim and guide you through the legal process.  

Don't let corporate fraud jeopardize your financial future. Contact us today to explore your options and join the fight for shareholder rights. Request your free case evaluation to pursue the justice and compensation you deserve.  

All victims affected by PACS Group, Inc.®'s alleged deceptive practices, and failure to meet basic compliance standards should receive justice and potential compensation, beginning with a free, private case review with our experienced legal team.

The Importance of Joining a Class Action

Class action lawsuits can provide an efficient mechanism to compensate injured victims, hold wrongdoers accountable, or affect how a company or an industry operates.  Class actions allow injured parties to come together and take on larger adversaries.  By leveraging the power of a group class members the class can match the resources of a corporate defendant and put the parties on equal footing.

If you have been adversely affected by corporate misconduct, you may join DiCello Levitt’s class action lawsuit and help hold the wrongdoers responsible for their alleged misconduct, potentially recover your financial losses, and contribute to enforcing higher ethical, governance, and compliance standards.  Your participation can make a difference.

To learn more about how to join the lawsuit and your potential eligibility, please contact DiCello Levitt.  DiCello Levitt is committed to representing the interests of all affected parties and pursuing justice in this significant case.

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PACS Group® Investors may have grounds to pursue legal action and financial recovery of damages.

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