Investigations

GRABAR LAW OFFICE INVESTIGATES CLAIMS ON BEHALF OF SHAREHOLDERS OF  PACS GROUP, INC. (NYSE: PACS)

PACS Group, Inc., through its subsidiaries, operates senior care facilities, skilled nursing facilities, and assisted living facilities in the United States. This lawsuit was filed on behalf of purchasers of the Company's stock issued in connection with its April 11, 2024 initial public offering or during the Class Period. Defendants include the Company, two of its Officers, three of its Directors, and nine of its Underwriters.

On November 4, 2024, investment research firm Hindenburg Research published a report that accused the Company of engaging in fraudulent practices. The Company's share price fell 38.76% on November 6, 2024, on unusually heavy trading volume.

A recently filed federal securities fraud class action Complaint alleges that in the Registration Statement and throughout the Class Period (April 11, 2024 to November 5, 2024), PACS Group, through certain of its officers, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, it is alleged that Defendants failed to disclose to investors: (1) that the Company engaged in a “scheme” to submit false Medicare claims which “drove more than 100% of PACS’ operating and net income from 2020 – 2023”; (2) that the Company engaged in a “scheme” to “bill thousands of unnecessary respiratory and sensory integration therapies to Medicare”; (3) that the Company engaged in a scheme to falsify documentation related to licensure and staffing; and (4) that, 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.

If you purchased PACS shares on or near the April 11, 2024 IPO, or at any time from the IPO through November 5, 2024, you are encouraged to contact us at [email protected], or call 267-507-6085.  You may be able to seek damages, corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever.

 

Please enter your name.
Please enter a valid phone number.
Please enter a message.
Send

  • Join This Action

  • Alternatively, you may upload your transactions using the upload button below or email them to [email protected]. *

  • Drop files here or
    Max. file size: 100 MB.
    • Signed pursuant to California Civil Code Section 1633.1, et seq. and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

    • Date of signing: *

    • MM slash DD slash YYYY
    • This field is for validation purposes and should be left unchanged.

                                                                                               Attorney Advertising Disclaimer