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Rosen Law Firm Reminds PACS Group Investors of Class Action Deadline
New York, NY – The Rosen Law Firm, recognized for its commitment to investor rights globally, is issuing a reminder to individuals who purchased common stock of PACS Group Inc. (NYSE: PACS). This pertains to stocks acquired under the registration statement and prospectus related to the company’s April 11, 2024, initial public offering (IPO) as well as securities obtained during the period from April 11, 2024, to November 5, 2024, inclusive. Investors affected by the September 2024 secondary public offering (SPO) should also note the significant deadline approaching on January 13, 2025, for lead plaintiffs.
Potential for Compensation
Investors who acquired PACS common stock according to the IPO and during the specified Class Period may have grounds for seeking compensation. Notably, this can occur without the burden of upfront legal fees, thanks to a contingency fee arrangement commonly utilized in class action lawsuits.
Next Steps for Affected Investors
Those interested in participating in the PACS class action are encouraged to visit this link or contact Phillip Kim, Esq. at 866-767-3653. Investors may also reach out via email at case@rosenlegal.com for further information about the class action. A formal lawsuit has already been initiated, and individuals wishing to serve as lead plaintiffs must take action by January 13, 2025. This role entails acting on behalf of fellow class members in guiding the litigation process.
Why Choose Rosen Law Firm?
Investors are advised to seek legal counsel with a proven record in leading class actions. Many firms that circulate notices may lack significant experience or resources. The Rosen Law Firm stands out for its expertise, having achieved the largest securities class action settlement against a Chinese company at one point. The firm, recognized for its success in securities class action settlements, has consistently ranked among the top firms in this domain since 2013, recovering substantial amounts for investors. In 2019 alone, the firm secured over $438 million in settlements, and its founding partner was honored as a notable figure in the plaintiffs’ bar.
Case Details and Allegations
The class action lawsuit alleges that PACS Group engaged in deceptive practices, including: (1) submitting false Medicare claims that significantly inflated its recorded operating and net income from 2020 to 2023; (2) billing Medicare for unnecessary respiratory and sensory therapies; (3) falsifying essential documentation related to their licensing and staffing; and (4) making materially misleading statements regarding the company’s business, operations, and future prospects. The lawsuit contends that when the true nature of these activities became public, affected investors sustained notable financial losses.
To join the class action, interested parties may visit this link or get in touch with Phillip Kim, Esq. at 866-767-3653 or case@rosenlegal.com.
It is critical to note that a class has not yet been certified. Until such certification occurs, individuals are not represented by legal counsel unless they choose to retain one. Investors also have the option to remain uninvolved at this stage; the right to potential recovery does not hinge on becoming a lead plaintiff.
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Note: This article constitutes attorney advertising and prior outcomes do not guarantee future results.
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