PACS Group, Inc
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
On November 4, 2024, Hindenburg Research released a report accusing PACS of engaging in fraudulent practices as part of its alleged “turnaround” strategy for underperforming skilled nursing facilities. The report claims that PACS’ approach involved exploiting taxpayer-funded healthcare programs, including the misuse of a COVID-era waiver. It further alleges that the company improperly billed Medicare Part B for thousands of unnecessary respiratory and sensory integration therapies, regardless of patient need or clinical outcomes, and employed unlicensed administrators, among other accusations.
Following the release of this report, PACS’ stock price dropped by $11.93, or 27.8%, closing at $31.01 per share on November 4, 2024, resulting in significant losses for investors.
