Investing.com is reminding investors of PACS Group (PACS) of the deadline in the securities promotion
Philadelphia, Pennsylvania–(Newsfile Corp. – December 30, 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 ) on behalf of the purchasers of PACS securities between April 8, 2024 and November 21, 2024 inclusive (“Class Period”).
Investors who suffered losses due to their investments in PACS (NYSE: PACS ) can follow the link below for more information about the lawsuit:
CLICK HERE learn more about the lawsuit.
Investors who purchased 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
On November 4, 2024, Hindenburg Research released a report alleging that, among other things, PACS abused the COVID exemptions to inflate Medicare reimbursements, as well as engaged in other revenue practices that misrepresented financial the health of the Company. Following this news, PACS’s share price fell by $11.93 per share – 27.8 percent – close at $31.01 per share on November 4, 2024.
Then on November 6, 2024, the Company announced that it would delay the release of its financial results for the third quarter of 2024 due to an investigation by the Company’s Audit Committee into recent allegations related to its compensation and referral practices. PACS also disclosed that it has received civil investigation requests from the federal government regarding these practices. Following this news, the PACS stock price fell by $11.45 per share – 38.8 percent – close at $18.09 per share on November 6, 2024.
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.
To view the original version of this press release, visit https://www.newsfilecorp.com/release/235576
