Kahn Swick & Foti, LLC Urges PACS Group Shareholders to Act on Class Action Lawsuits Against the Company

PACS Group Shareholder Alert: Act Before it's Too Late

In a significant warning to investors, Kahn Swick & Foti, LLC (KSF), led by its esteemed partner and former Louisiana Attorney General, Charles C. Foti, Jr., has alerted shareholders of PACS Group, Inc. (NYSE: PACS), regarding important class action lawsuits. For those who have incurred losses exceeding $100,000 through the acquisition of shares during a specified period, the firm emphasizes the urgency to act before the upcoming deadline on January 13, 2025, to apply as lead plaintiffs.

The company, which has come under scrutiny, is facing allegations of not disclosing crucial information during its initial public offering (IPO) and subsequent secondary offerings. The class period in question spans from April 11, 2024, to November 5, 2024. Investors who purchased or acquired securities of PACS Group during this timeframe may have valid legal claims.

On November 6, 2024, PACS Group's stock experienced a dramatic decline, plummeting by 38.76% after the announcement of civil investigative demands from the federal government. This was linked to potential issues regarding the company’s reimbursement and referral practices. The abrupt downfall in stock price highlighted the potential impact of undisclosed material information on the investments of its shareholders. As PACS Group's shares closed at $18.09 per share on unusually heavy trading volume, many investors were understandably alarmed.

Legal actions against PACS Group are currently ongoing in the United States District Court Southern District of New York. The first filed case is noted as Manchin v. PACS Group, Inc., while another case, New Orleans Employees' Retirement System v. PACS Group, Inc., has further broadened the class definition. Kahn Swick & Foti emphasizes that those affected should not miss this crucial opportunity to recover their losses. Interested investors are encouraged to reach out to KSF's Managing Partner, Lewis Kahn, for further guidance and information regarding their legal rights and potential participation in the lawsuits.

Kahn Swick & Foti, LLC is notable for representing a diverse clientele, including public institutional investors and retail investors, striving to secure recoveries for various investment losses stemming from corporate fraud or misrepresentations by publicly traded companies. With offices across major U.S. cities, including New York and New Orleans, KSF is adept at navigating complex securities litigation, making it a leading firm in this field.

Investors wishing to serve as lead plaintiffs are reminded of the importance of making their petitions before the deadline and are urged to seek assistance without obligation or costs. It is an essential time for affected shareholders to consider their legal options and safeguard their financial interests in the wake of these troubling developments surrounding PACS Group.

For further details on pursuing claims or joining the class action, shareholders can contact Kahn Swick & Foti by calling 1-877-515-1850 or visiting their website for additional resources and guidance.

In conclusion, the unfolding situation with PACS Group underscores the significance of transparency and disclosure within the corporate sector, as well as the potential ramifications for investors when such standards are not met. Shareholders are strongly advised to stay informed and proactive in protecting their investments.