RADNOR, Pa., Nov. 9, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of PACS Group, Inc. (NYSE: PACS) ("PACS").
On November 4, 2024, Hindenburg Research published a report titled: "PACS Group: How to Become A Billionaire In The Skilled Nursing Industry By Systematically Scamming Taxpayers." Specifically, the report indicated 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 found that "PACS abused a COVID-era waiver, inappropriately accessing skilled care Medicare benefits for thousands of patients across its national portfolio of facilities." Hindenburg further estimated that "the scheme drove more than 100% of PACS' operating and net income from 2020 - 2023, enabling PACS to IPO in early 2024 with the illusion of legitimate growth and profitability."
Following this news, the price of PACS' stock fell 27.8%, from a closing price of $42.94 per share on November 1, 2024, to close at $31.01 per share on November 4, 2024.
If you are a PACS investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or E-mail at info@ktmc.com. You can also click on the following link or paste it in your browser:https://www.ktmc.com/pacs-group-inc-investigation?utm_source=PR&utm_medium=link&utm_campaign=pacs&mktm=r
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com
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SOURCE Kessler Topaz Meltzer & Check, LLP
