GlobeNewswire
PACS Group, Inc. Sued For Securities Law Violations; Block & Leviton Encourages Investors Who Have Lost Money to Contact the Firm
BOSTON, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Block & Leviton announces that a securities fraud lawsuit has been filed against PACS Group, Inc. (NYSE: PACS). Investors who have lost money in their PACS Group investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/pacs.
What is this all about?
A lawsuit has been filed against PACS Group, Inc., alleging that the Defendants failed to disclose to investors: (1) that the Company engaged in a "scheme" to submit false Medicare claims which "drove more than 100% of PACS' operating and net income from 2020 - 2023"; (2) that the Company engaged in a "scheme" to "bill thousands of unnecessary respiratory and sensory integration therapies to Medicare"; (3) that the Company engaged in a scheme to falsify documentation related to licensure and staffing; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Who is eligible?
Anyone who purchased PACS Group common stock between April 11, 2024 and November 05, 2024 and has seen their shares fall may be eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What should you do next?
The deadline to seek appointment as lead plaintiff is January 13, 2025. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. If you've lost money on your investment, you should contact Block & Leviton to learn more via our case website, by email at shareholders@blockleviton.com, or by phone at (888) 256-2510.
Whistleblower?
If you have non-public information about PACS Group, you should consider assisting in our investigation or working with our attorneys to file a report with the Securities Exchange Commission under their whistleblower program. Whistleblowers who provide original information to the SEC may receive rewards of up to 30% of any successful recovery. For more information, contact Block & Leviton at whistleblowers@blockleviton.com or by phone at (888) 256-2510.
Why should you contact Block & Leviton?
Block & Leviton is widely regarded as one of the leading securities class action firms in the country. Our attorneys have recovered billions of dollars for defrauded investors and are dedicated to obtaining significant recoveries on behalf of our clients through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, call (888) 256-2510 or email shareholders@blockleviton.com with any questions.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (888) 256-2510
Email: shareholders@blockleviton.com
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