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Class Action Lawsuit Filed Against PACS Group, Inc.

Philadelphia, Pennsylvania—A new securities class action lawsuit has emerged against PACS Group, Inc. (“PACS” or the “Company”) (NYSE: PACS). This legal action is brought on behalf of individuals who purchased PACS securities between April 8, 2024, and November 21, 2024, a timeframe referred to as the “Class Period.”

CLICK HERE TO LEARN MORE ABOUT THIS LAWSUIT.

Investors who acquired PACS securities during the stated Class Period have until JANUARY 13, 2025, to apply for the role of lead plaintiff, which represents the interests of the class in this litigation.

Based in Farmington, Utah, PACS manages skilled nursing and post-acute care facilities across the United States. However, the lawsuit alleges serious violations regarding the Company’s reporting and billing practices. Specifically, the complaint claims that, throughout the Class Period, PACS failed to disclose critical information regarding its operations. Allegations include that PACS inflated its Medicare revenues by erroneously categorizing patients with lower acuity as needing high-acuity skilled care, which is against the guidelines established during the COVID-19 pandemic waiver, thus obtaining elevated reimbursement rates unjustly. Moreover, following the end of the waiver period, PACS is accused of further inflating its revenues by fraudulently billing for unnecessary medical services and for procedures that were never performed on patients.

For more details or to learn how to get involved in this litigation, interested parties can reach out to Berger Montague at the contact information provided: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, and Peter Hamner at phamner@bm.net. Alternatively, CLICK HERE for more information.

The lead plaintiff plays a pivotal role in directing the class action proceedings, representing the interests of all class members. This individual, typically an investor or a small group of investors with the most substantial financial stake, also selects legal representation for the class, pending court approval of the chosen attorneys. It’s important to note that the option to become a lead plaintiff does not influence an individual’s eligibility to participate in any recovery from the case. Any member of the proposed class can request to be appointed as a lead plaintiff through their chosen counsel or may opt to remain inactive without any implications on their potential recovery.

Berger Montague has been at the forefront of securities class action litigation since its inception in 1970. With a presence in various cities, including Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco, and Chicago, the firm has spent over fifty years advocating for individual and institutional investors as lead counsel in courts across the nation.

For the source version of this press release, please visit here.

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