LOS ANGELES, Nov. 27, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against PACS Group, Inc. ("PACS" or "the Company") (NYSE: PACS) for violations of the federal securities laws.
Investors who purchased the Company's securities pursuant and/or traceable to the Company's 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.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. PACS engaged in a false Medicare claim scam which drove more than 100% of its operating and net income from 2020 to 2023. The Company billed thousands of unnecessary therapies to Medicare. The Company falsified documentation related to licensure and staffing. Based on these facts, the Company's public statements were false and materially misleading throughout the IPO and class period. When the market learned the truth about PACS, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com
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SOURCE The Schall Law Firm
