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Levi & Korsinsky Alerts Investors on PACS Group Class Action

In the realm of financial securities, awareness of legal proceedings can often play a crucial role in protecting investor rights and interests. Recently, Levi & Korsinsky LLP has brought attention to a pressing matter that affects the investors of PACS Group, Inc. This alert serves as a reminder for those who may have experienced losses due to potential securities fraud connected to the company.

Overview of the Class Action Lawsuit

On December 3, 2024, Levi & Korsinsky, LLP issued a notice to investors in PACS Group, Inc., which trades on NYSE: PACS. This notice pertains to a class action securities lawsuit that seeks to recover losses sustained by individuals or entities who purchased or otherwise acquired PACS Group's common stock. The timeframe relevant to this lawsuit covers shares bought either during the company's April 11, 2024 initial public offering or between April 11, 2024, and November 5, 2024.

Allegations of Securities Fraud

The heart of the allegations lies within the purported misleading statements and concealed facts made by PACS Group's management. The specifics of these claims include:
1. A scheme involving the submission of false Medicare claims that purportedly generated over 100% of PACS's operating and net income from 2020 to 2023.
2. The billing of thousands of unnecessary respiratory and sensory integration therapies to Medicare.
3. Falsification of documentation concerning licensure and staffing.

As a result of these actions, the lawsuit suggests that the positive statements regarding the company's business practices and fiscal health were misleading and lacked a solid foundation.

Taking Action as an Investor

For those who have invested in PACS Group during the specified timeframe and believe they have suffered losses, an important deadline is approaching. Investors who wish to be considered for the role of lead plaintiff must act before January 13, 2025. This does not hinder other investors from participating in the potential recovery; being a lead plaintiff is not a requisite for sharing any financial compensations awarded.

No Financial Burden to Participate

Levi & Korsinsky emphasizes that participating in this legal action does not involve any out-of-pocket costs or fees for class members. In fact, they outline that aggrieved shareholders can seek compensation without any financial risk. The firm aims to make this process as accessible as possible for individuals affected by the alleged misconduct.

The Established Reputation of Levi & Korsinsky

With a strong track record amassed over the past two decades, Levi & Korsinsky LLP has successfully secured hundreds of millions of dollars for their clients. The firm’s extensive experience in high-stakes securities litigation places them in a strong position to advocate for investor rights. Recognized in ISS Securities Class Action Services' Top 50 Report for seven years running, they boast a formidable team dedicated to navigating complex legal landscapes on behalf of shareholders.

Contact Information

Investors interested in learning more about the lawsuit or those wishing to discuss their options can reach out to:

• - Joseph E. Levi, Esq. at 212-363-7500 or via email at email protected]
• - Visit their official website at [zlk.com for comprehensive details and assistance.

Conclusion

As the deadline approaches for the lead plaintiff designation in this significant class action lawsuit, it is imperative for investors of PACS Group, Inc. to remain informed and proactive. Those who believe they are affected by these claims should consider engaging with Levi & Korsinsky LLP to understand their rights and options within this legal framework. Staying vigilant in matters of securities regulations not only protects individual interests but also fortifies the integrity of the investment landscape as a whole.