#United States #New York #Class Action #Gross Law Firm #PACS Group

Class Action Lawsuit Filed Against PACS Group, Inc.

Overview

On December 19, 2024, The Gross Law Firm announced a class action lawsuit against PACS Group, Inc. (NYSE: PACS) on behalf of its shareholders. This lawsuit arises from allegations that the company misled investors about its financial practices and operational integrity. The implications of this lawsuit may significantly affect shareholders who purchased shares during the specified class period.

Details of the Class Period

The class action covers shareholders who bought PACS Group's common stock in connection with its initial public offering on April 11, 2024, or between April 11, 2024, and November 5, 2024. The law firm encourages all affected shareholders to get in touch regarding potential lead plaintiff appointments, although being appointed as lead plaintiff is not necessary to recover losses.

Allegations Against PACS Group

The complaint alleges several serious infractions against PACS Group:
1. False Medicare Claims: The company supposedly engaged in a scheme to submit fraudulent Medicare claims, resulting in over 100% of its operating and net income between 2020 and 2023.
2. Unnecessary Therapies: PACS was accused of billing thousands of unnecessary therapies to Medicare, which contributed to its revenue manipulation.
3. Falsified Documentation: Allegations include falsifying important documentation related to licensing and staffing measures.
4. Misleading Statements: The collective impact of these actions led to the issuance of misleading positive statements regarding the company's business and operational prospects.

Importance of Claiming Losses

Shareholders who have experienced losses due to these alleged deceptive practices are encouraged to register their information to facilitate the recovery process. As part of the registration, the law firm provides a portfolio monitoring software to keep stakeholders updated throughout the course of the class action lawsuit.

Key Deadlines

The deadline for shareholders to register for the class action is January 13, 2025. Those registered will be eligible to participate in potential settlements designed to recover losses incurred during the outlined period. There are no costs or obligations associated with registering for this case.

Why Choose The Gross Law Firm?

The Gross Law Firm prides itself on protecting the rights of investors affected by fraudulent business practices. With a commitment to responsible corporate behavior, the law firm aims to hold companies accountable for misleading their shareholders, ensuring that investors can pursue fair recovery options in face of deceitful conduct.

To connect with the Gross Law Firm and register for this class action against PACS Group, interested shareholders can contact the firm directly at 15 West 38th Street, 12th Floor, New York, NY, 10018, or through email at [email protected]. For inquiries, a phone call can also be made to (646) 453-8903.