Berger Montague Advises PACS Group (PACS) Investors To Inquire About Securities Fraud Class Action By Jan 13, 2025 By Investing.com
Philadelphia, Pennsylvania–(Newsfile Corp. – December 29, 2024) – A securities class action lawsuit has been filed against PACS Group, Inc. (“PACS” or the “Company”) (NYSE: PACS). The lawsuit was filed on behalf of the customers PACS Securities between April 8, 2024 and November 21, 2024 inclusive (“Class Period”).
CLICK HERE TO LEARN MORE ABOUT THIS LAWSUIT.
Investors who bought or acquired PACS securities during the Class Period may, no later than JANUARY 13, 2025seeks to be appointed lead representative of the class plaintiffs.
Headquartered in Farmington, Utah, PACS operates skilled nursing and post-acute care facilities in the US
According to the lawsuit, throughout the Lecture Period, the defendants failed to disclose that: (a) PACS inflated its Medicare revenue by misclassifying lower-acuity patients as high-acuity patients requiring skilled care in violation of the Covid-era exemption, thereby higher compensation rates ensured; and (b) that after the expiration of the COVID-era exemption, PACS inflated its revenues by fraudulently billing for unnecessary treatments and services that were never provided to patients.
For additional 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.
The lead plaintiff is the representative party that acts on behalf of all class members in the conduct of the litigation. The lead plaintiff is usually an investor or a small group of investors who have the greatest financial interest and who are also appropriate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and those attorneys, if approved by the court, are lead or class counsel. However, deciding whether to be the lead plaintiff does not affect your ability to participate in the recovery. Communication with any attorney is not necessary to participate or participate in any recovery obtained in this case. Each putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose 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 actions since its founding in 1970. Berger Montague has represented individual and institutional investors for more than five decades and serves as general counsel in courts throughout the United States.
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