RADNOR, Pennsylvania. – (NewMediaWire) – December 21, 2024 – The law firm Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against PACS Group, Inc. (PACS ) (NYSE: PACS). The lawsuit is brought on behalf of investors who purchased or otherwise acquired PACS: 1) shares of common stock pursuant to and/or traceable under the registration statement and prospectus (collectively, the Registration Statement) issued in connection with the public offering PACS initial date of April 11, 2024 (the IPO); and/or 2) values between April 11, 2024 and November 5, 2024 inclusive (the Class Period). The lead plaintiff deadline is January 13, 2025.
CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:
If you suffered losses on PACS, you can CLICK HERE or go to:
You may also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at info@ktmc.com.
THE DEFENDANTS ALLEGED MISCONDUCT:
The complaint alleges that, in the Registration Statement and throughout the Class Period, Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, the defendants failed to disclose to investors that: (1) PACS engaged in a scheme to submit false Medicare claims that generated more than 100% of PACS’ operating and net income between 2020 and 2023; (2) the company participated in a scheme to bill Medicare for thousands of unnecessary respiratory and sensory integration therapies; (3) PACS participated in a scheme to falsify documentation related to licensing and personnel; and (4) 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.
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THE LEAD PLAINTIFF PROCESS:
PACS investors may, no later than January 13, 2025, apply to be named lead class representative plaintiffs through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain a absent member of the class. A lead plaintiff is a representative party acting on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or a small group of investors who have the greatest financial interest and who are also suitable and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to participate in any recovery is not affected by the decision whether or not to serve as lead plaintiff.
Kessler Topaz Meltzer & Check, LLP encourages PACS investors who have suffered significant losses to contact the firm directly for more information.
CLICK HERE TO REGISTER FOR THE CASE OR GO TO:
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP prosecutes class action lawsuits in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: protecting investors, consumers, employees and others from fraud, abuse, misconduct and negligence by companies and fiduciaries. The complaints in this action were not brought by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, visit www.ktmc.com.
CONTACT:
Kessler Topacio Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, Pennsylvania 19087
info@ktmc.com
May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future results.
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