Philadelphia, Pennsylvania–(Newsfile Corp. – January 8, 2025) – A securities class motion lawsuit has been filed in opposition to PACS Group, Inc. (“PACS” or the “Company”) (NYSE: PACS). The lawsuit has been filed on behalf of purchasers of PACS securities between April 8, 2024 and November 21, 2024, inclusive (the “Class Period”).
CLICK HERE TO LEARN MORE ABOUT THIS LAWSUIT.
Buyers who bought or acquired PACS securities through the Class Interval might, no later than JANUARY 13, 2025, search to be appointed as a lead plaintiff consultant of the category.
Headquartered in Farmington, Utah, PACS operates expert nursing amenities and post-acute care amenities within the U.S.
In line with the lawsuit, all through the Class Interval, Defendants didn’t disclose that: (a) PACS inflated its Medicare revenues by misclassifying lower-acuity sufferers as high-acuity sufferers that required expert care in violation of a Covid-era waiver, thereby securing increased reimbursement charges; and (b) that after the expiration of the COVID-era waiver, PACS inflated its revenues by fraudulently billing for pointless therapies and for providers by no means supplied to sufferers.
For extra data or to discover ways to take part on this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.web or (215) 875-3015, or Peter Hamner at phamner@bm.web, or CLICK HERE.
A lead plaintiff is a consultant celebration who acts on behalf of all class members in directing the litigation. The lead plaintiff is normally the investor or small group of buyers who’ve the biggest monetary curiosity and who’re additionally satisfactory and typical of the proposed class of buyers. The lead plaintiff selects counsel to characterize the lead plaintiff and the category and these attorneys, if authorised by the court docket, are lead or class counsel. Your capability to share in any restoration just isn’t, nevertheless, affected by the choice whether or not or to not function a lead plaintiff. Speaking with any counsel just isn’t essential to take part or share in any restoration achieved on this case. Any member of the purported class might transfer the Court docket to function a lead plaintiff via counsel of his/her alternative, or might select to do nothing and stay an inactive class member.
Berger Montague, with workplaces in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class motion litigation since its founding in 1970. Berger Montague has represented particular person and institutional buyers for over 5 a long time and serves as lead counsel in courts all through the US.
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