Philadelphia, Pennsylvania–(Newsfile Corp. – December 21, 2024) – 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 throughout the Class Interval could, 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 response to 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 remedies and for providers by no means offered to sufferers.
For added info or to learn 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 social gathering who acts on behalf of all class members in directing the litigation. The lead plaintiff is normally the investor or small group of traders who’ve the biggest monetary curiosity and who’re additionally enough and typical of the proposed class of traders. The lead plaintiff selects counsel to signify the lead plaintiff and the category and these attorneys, if authorised by the court docket, are lead or class counsel. Your means to share in any restoration isn’t, nonetheless, affected by the choice whether or not or to not function a lead plaintiff. Speaking with any counsel isn’t essential to take part or share in any restoration achieved on this case. Any member of the purported class could transfer the Courtroom to function a lead plaintiff by way of counsel of his/her alternative, or could 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 traders for over 5 a long time and serves as lead counsel in courts all through the USA.
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