1. Class action lawsuit filed against PACS for federal securities law violations. 2. PACS allegedly made false statements about Medicare claims harming shareholders from IPO. 3. PACS' operating income was reportedly over 100% driven by fraudulent activities.
The lawsuit suggests significant misconduct, which typically leads to plummeting stock prices, as seen with other companies in similar situations.
Legal issues can heavily damage a company's reputation and financial stability, especially involving fraud.
Immediate negative perceptions due to legal action often influence stock prices quickly.
The DJS Law Group reminds investors of a class action lawsuit against PACS Group, Inc. ("PACS" or "the Company") (NYSE: PACS) for violations of the federal securities laws.
Shareholders who bought PACS securities pursuant to their Offering Documents in connection with its initial public offering ("IPO") conducted on April 11, 2024, or between April 11, 2024 and November 5, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before January 13, 2025.
According to the Complaint, PACS allegedly made false statements to the market when they engaged in a false Medicare claim scam which drove more than 100% of its operating and net income from 2020 to 2023. PACS allegedly billed thousands of unnecessary therapies to Medicare and falsified documentation related to licensure and staffing.
If you are a shareholder who suffered a loss, contact us to participate.
DJS Law Group's primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
David J. Schwartz
DJS Law Group
274 White Plains Road, Suite 1
Eastchester, NY 10709
Phone: 914-206-9742
Email: [email protected]
SOURCE DJS Law Group LLP