{"id":791329,"date":"2024-11-30T07:15:04","date_gmt":"2024-11-30T12:15:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pacs-legal-deadline-pacs-group-class-action-deadline-is-approaching-contact-bfa-law-if-you-suffered-losses-nysepacs\/"},"modified":"2024-11-30T07:15:04","modified_gmt":"2024-11-30T12:15:04","slug":"pacs-legal-deadline-pacs-group-class-action-deadline-is-approaching-contact-bfa-law-if-you-suffered-losses-nysepacs","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pacs-legal-deadline-pacs-group-class-action-deadline-is-approaching-contact-bfa-law-if-you-suffered-losses-nysepacs\/","title":{"rendered":"PACS LEGAL DEADLINE: PACS Group Class Action Deadline is Approaching \u2013 Contact BFA Law if You Suffered Losses (NYSE:PACS)"},"content":{"rendered":"
\n

NEW YORK, Nov. 30, 2024 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP<\/strong><\/a> announces that a lawsuit has been filed against PACS Group, Inc. (NYSE: PACS) and certain of the Company\u2019s senior executives for potential violations of the federal securities laws.<\/p>\n

If you invested in PACS, you are encouraged to obtain additional information by visiting<\/strong>: https:\/\/www.bfalaw.com\/cases-investigations\/pacs-group-inc<\/strong><\/a>.<\/p>\n

Investors have until January 13, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 11 and 15 of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in PACS securities.\u00a0\u00a0 The case is pending in the U.S. District Court for the Southern District of New York and is captioned Manchin v. PACS Group, Inc.<\/em>, et al.<\/em>, No. 24-cv-08636.<\/p>\n

\n What is the PACS Lawsuit About? <\/strong>\n <\/p>\n

The Complaint alleges that PACS is one of the largest operators of skilled nursing facilities in the United States. As alleged, PACS repeatedly represented to shareholders that it possesses a winning \u201cturnaround\u201d strategy to make its nursing facilities profitable. However, in truth, it is alleged that PACS\u2019s turnaround was driven by illicitly accessing Medicare benefits for thousands of patients.<\/p>\n

On November 4, 2024, prominent investment research firm Hindenburg Research published a report titled: \u201cPACS Group: How to Become A Billionaire In The Skilled Nursing Industry By Systematically Scamming Taxpayers.\u201d After a 5-month investigation that included interviews with 18 former PACS employees, competitors, and an analysis of more than 900 PACS facility cost reports, Hindenburg alleged that \u201cPACS abused a COVID-era waiver, inappropriately accessing skilled care Medicare benefits for thousands of patients across its national portfolio of facilities.\u201d Hindenburg further estimated that \u201cthe scheme drove more than 100% of PACS\u2019 operating and net income from 2020 \u2013 2023, enabling PACS to IPO in early 2024 with the illusion of legitimate growth and profitability.\u201d<\/p>\n

On November 6, 2024, PACS then announced that it was postponing its Q3 earnings and that it had \u201creceived civil investigative demands from the federal government regarding the Company\u2019s reimbursement and referral practices that may or may not be related to this week\u2019s third-party report.\u201d<\/p>\n

The news caused a significant decline in the price of PACS stock. On November 4, 2024, the price of the company\u2019s stock fell 27.8%, from a closing price of $42.94 per share on November 1, 2024, to $31.01 per share on November 4, 2024. On November 6, 2024, the price of the company\u2019s stock fell 38.8%, from a closing price of $29.54 per share on November 5, 2024, to $18.09 per share on November 6, 2024.<\/p>\n

\n Click here if you Suffered Losses: <\/strong>
\n
\n https:\/\/www.bfalaw.com\/cases-investigations\/pacs-group-inc<\/strong>
\n <\/a>
\n .<\/strong>\n <\/p>\n

\n What Can You Do?<\/strong>\n <\/p>\n

If you invested in PACS you may have legal options and are encouraged to submit your information to the firm.<\/p>\n

All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.<\/p>\n

\n Submit your information by visiting:<\/strong>\n <\/p>\n

\n
\n https:\/\/www.bfalaw.com\/cases-investigations\/pacs-group-inc<\/strong>
\n <\/a>\n <\/p>\n

Or contact:
Ross Shikowitz
ross@bfalaw.com<\/a>
212-789-3619<\/p>\n

\n Why Bleichmar Fonti & Auld LLP?<\/strong>\n <\/p>\n

Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs\u2019 Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.\u2019s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.<\/p>\n

For more information about BFA and its attorneys, please visit https:\/\/www.bfalaw.com<\/a>.<\/p>\n

\n
\n https:\/\/www.bfalaw.com\/cases-investigations\/pacs-group-inc<\/strong>
\n <\/a>\n <\/p>\n

\n Attorney advertising. Past results do not guarantee future outcomes.<\/em>\n <\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Nov. 30, 2024 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against PACS Group, Inc. (NYSE: PACS) and certain of the Company\u2019s senior executives for potential violations of the federal securities laws. If you invested in PACS, you are encouraged to obtain additional information by visiting: https:\/\/www.bfalaw.com\/cases-investigations\/pacs-group-inc. Investors have until January 13, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 11 and 15 of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in PACS securities.\u00a0\u00a0 The case is pending in the U.S. District Court … <\/p>\n

Continue reading “PACS LEGAL DEADLINE: PACS Group Class Action Deadline is Approaching \u2013 Contact BFA Law if You Suffered Losses (NYSE:PACS)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-791329","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPACS LEGAL DEADLINE: PACS Group Class Action Deadline is Approaching \u2013 Contact BFA Law if You Suffered Losses (NYSE:PACS) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pacs-legal-deadline-pacs-group-class-action-deadline-is-approaching-contact-bfa-law-if-you-suffered-losses-nysepacs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PACS LEGAL DEADLINE: PACS Group Class Action Deadline is Approaching \u2013 Contact BFA Law if You Suffered Losses (NYSE:PACS) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Nov. 30, 2024 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against PACS Group, Inc. (NYSE: PACS) and certain of the Company\u2019s senior executives for potential violations of the federal securities laws. If you invested in PACS, you are encouraged to obtain additional information by visiting: https:\/\/www.bfalaw.com\/cases-investigations\/pacs-group-inc. Investors have until January 13, 2025, to ask the Court to be appointed to lead the case. 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(NYSE: PACS) and certain of the Company\u2019s senior executives for potential violations of the federal securities laws. If you invested in PACS, you are encouraged to obtain additional information by visiting: https:\/\/www.bfalaw.com\/cases-investigations\/pacs-group-inc. Investors have until January 13, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 11 and 15 of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in PACS securities.\u00a0\u00a0 The case is pending in the U.S. District Court … Continue reading \"PACS LEGAL DEADLINE: PACS Group Class Action Deadline is Approaching \u2013 Contact BFA Law if You Suffered Losses (NYSE:PACS)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/pacs-legal-deadline-pacs-group-class-action-deadline-is-approaching-contact-bfa-law-if-you-suffered-losses-nysepacs\/","og_site_name":"Market Newsdesk","article_published_time":"2024-11-30T12:15:04+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTI3ODk4OCM2NTk3NDk0IzIyOTA5OTU=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pacs-legal-deadline-pacs-group-class-action-deadline-is-approaching-contact-bfa-law-if-you-suffered-losses-nysepacs\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pacs-legal-deadline-pacs-group-class-action-deadline-is-approaching-contact-bfa-law-if-you-suffered-losses-nysepacs\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"PACS LEGAL DEADLINE: PACS Group Class Action Deadline is Approaching \u2013 Contact BFA Law if You Suffered Losses (NYSE:PACS)","datePublished":"2024-11-30T12:15:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pacs-legal-deadline-pacs-group-class-action-deadline-is-approaching-contact-bfa-law-if-you-suffered-losses-nysepacs\/"},"wordCount":642,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pacs-legal-deadline-pacs-group-class-action-deadline-is-approaching-contact-bfa-law-if-you-suffered-losses-nysepacs\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTI3ODk4OCM2NTk3NDk0IzIyOTA5OTU=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pacs-legal-deadline-pacs-group-class-action-deadline-is-approaching-contact-bfa-law-if-you-suffered-losses-nysepacs\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/pacs-legal-deadline-pacs-group-class-action-deadline-is-approaching-contact-bfa-law-if-you-suffered-losses-nysepacs\/","name":"PACS LEGAL DEADLINE: PACS Group Class Action Deadline is Approaching \u2013 Contact BFA Law if You Suffered Losses (NYSE:PACS) - 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