Scott+Scott Attorneys at Law LLP Also Warns Investors That Securities Class Action Has Been Filed Against PACS Group, Inc. (PACS) Via Investing.com

Plaintiff’s deadline is January 13, 2025

New York, New York–(Newsfile Corp. – January 4, 2025) – Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international member and consumer rights litigation firm, announces investors that the deadline to move. the lead plaintiff in a securities class action against PACS Group, Inc. (NYSE: PACS) (“PACS” or the “Company”) and certain other defendants. (collectively, “Defendants”) is January 13, 2025.

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This action, filed in the US District Court for the Southern District of New York, asserts claims under §§11, 12(a) (2), and 15 of the Securities Act (“Securities Act”) and under § § §10(b) and 20(a) of the Securities Exchange Act of 1934 (“Exchange Act”) on behalf of the Group with all purchasers or otherwise. acquired PACS securities between April 11, 2024, and November 5, 2024, inclusive (the “Class Period”), and common stock pursuant to, or attributable to, or both, the offering of the second public of PACS of September 2024 and the consequential damages (the “Class”).

According to the Complaint, during the Class Period, the Defendants made false and/or misleading statements, and failed to disclose negative information about the Company’s business performance, and prospects. Specifically, Defendants failed to disclose to investors that, among other things: (1) the Company inflated its Medicare revenue by misrepresenting patients, and (2) fraudulently billing for unnecessary treatment and services that are never provided to patients.

When the truth emerged, according to the complaint, PACS’s share price fell by $11.93 per share, or more than 27%, to close at $31.01 per share on November 4, 2024, thereby hurting investors.

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Lead Plaintiff’s Deadline

The Lead Plaintiff’s deadline in this action is January 13, 2025. Any member of the proposed Class may seek to serve as Lead Plaintiff with counsel of his or her choosing, or may choose to do nothing and remain a member of the proposed Class.

If you purchased PACS securities during the Class Period, and suffered losses, realizable or unrealized, you are encouraged to contact Scott+Scott attorney Nicholas Bruno at (888) 398-9312, or nbruno@ scott-scott.com, for more information.

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About Scott+Scott Attorneys at Law LLP

Scott + Scott has extensive experience litigating major securities, antitrust, and retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other organizations worldwide with offices in New York, London, Amsterdam, Connecticut, Virginia, California and Ohio.

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To view the source version of this release, please visit https://www.newsfilecorp.com/release/235606