NEW YORK, December 7, 2024 – (JCN Newswire) – – The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) notifies investors that a securities class action lawsuit has been filed against PACS Group, Inc. (PACS) (NYSE:PACS). The lawsuit is filed on behalf of investors who purchased or otherwise acquired PACS: 1) shares of common stock pursuant to and/or traceable to the registration statement and prospectus (collectively, the registration statement) issued in connection with the PACS initial public offering of April 11, 2024 (the IPO); and/or 2) securities between April 11, 2024 and November 5, 2024, inclusive (the Class Period). The lead applicant deadline is January 13, 2025.
CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP: If you have suffered PACS losses, you can CLICK HERE: https://www.ktmc.com/new-cases/pacs-group-inc?utm_source=PR&utm_medium=link&utm_campaign=pacs&mktm= r
You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at info@ktmc.com.
DEFENDANTS ALLEGE MISCONDUCT: The complaint alleges that, in the Registration Statement and throughout the Class Period, Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts on the company's activities, operations and prospects. Specifically, Defendants failed to disclose to investors that: (1) PACS engaged in a scheme to submit false health insurance claims that generated more than 100% of operating profit and PACS net profit from 2020 to 2023; (2) the company engaged in a scheme to bill Medicare for thousands of unnecessary respiratory and sensory integration therapies; (3) PACS engaged in a scheme to falsify licensure and personnel documents; and (4) as a result of the foregoing, Defendants' positive statements regarding the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
CLICK HERE to watch our video: https://youtu.be/Q0twdqzv9kc
THE LEAD PLAINTIFF PROCESS: PACS investors may, no later than January 13, 2025, seek appointment as class lead plaintiff representative through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead applicant is generally the investor or a small group of investors who have the greatest financial interest and who are also suitable and typical of the proposed investor class. The lead plaintiff selects an attorney to represent the lead plaintiff and the class and those attorneys, if approved by the court, are the lead attorneys or class counsel. Your ability to participate in any recovery is not affected by whether you become lead plaintiff.
Kessler Topaz Meltzer & Check, LLP encourages PACS investors who have suffered significant losses to contact the firm directly for more information.
CLICK HERE TO REGISTER FOR THE CASE OR GO TO: https://www.ktmc.com/new-cases/pacs-group-inc?utm_source=PR&utm_medium=link&utm_campaign=pacs&mktm=r
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP: Kessler Topaz Meltzer & Check, LLP pursues class actions in state and federal courts across the country and around the world. The company has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other malpractice. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by companies and fiduciaries. The claims in this action were not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
CONTACT: Kessler Topaz Meltzer & Check, LLP, Jonathan Naji, Esq., (484) 270-1453, 280 King of Prussia Road, Radnor, PA 19087. info@ktmc.com.
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