#USA #New York #Class Action #PACS Group #Faruqi & Faruqi

Faruqi & Faruqi, LLP, a prominent national law firm specializing in securities litigation, is currently notifying investors in PACS Group, Inc. (NYSE: PACS) about a critical upcoming deadline regarding a class action lawsuit. The deadline for potential lead plaintiffs is set for January 13, 2025, intensifying the urgency for affected investors to assert their rights. Investors who incurred losses exceeding $50,000 as a result of PACS Group's stock activities are encouraged to reach out to securities litigation partner Josh Wilson to explore their legal options. This follows PACS Group's initial public offering (IPO) on April 11, 2024, during which the company sold over 21 million shares priced at $21 each, netting approximately $450 million. However, an alarming report published by Hindenburg Research on November 4, 2024, raised serious allegations against PACS Group, claiming that the company had engaged in deceptive practices over several years, manipulating Medicare claims, and falsifying documentation to inflate their revenue. According to the Hindenburg Research investigation, PACS Group's practices from 2020 to 2023 reportedly involved submitting false Medicare claims, which significantly inflated their operating and net income, undermining the legitimacy of their business operations. This led to considerable scrutiny of the company, causing its stock price to plunge by nearly 28% on the day the report was released. By November 6, 2024, further bad news struck when PACS announced it would delay its fiscal third quarter earnings release due to civil investigative demands from the federal government. Another significant drop followed, with shares plummeting nearly 39%. The envelope of potential wrongdoing surrounding PACS has raised alarm bells amongst shareholders. The allegations suggest that the company knowingly misrepresented its financial health, which could culminate in severe legal ramifications if upheld in court. In light of these events, any PACS investor feeling impacted is advised to act swiftly. Those interested in participating in the class action lawsuit can become lead plaintiffs, guiding the legal proceedings on behalf of fellow investors. It is vital to understand that involvement in this capacity or choosing to remain an absent class member does not influence one's ability to secure any recovery from the claims. The team at Faruqi & Faruqi is eager to assist investors in navigating this challenging experience. Whistleblowers, former employees, and others with knowledge of PACS Group's internal dealings are invited to come forward, as their insights could significantly bolster the case against the company. Investors can find more details about the class action and their potential options online at www.faruqilaw.com/PACS, or reach Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). As PACS Group's situation continues to develop, stakeholders should stay informed through reliable sources. In conclusion, the class action lawsuit against PACS Group represents a crucial opportunity for affected investors to hold the company accountable for alleged misconduct, ensuring better corporate governance and transparency moving forward.