PACS Group, Inc. (NYSE: PACS)

This lawsuit is for anyone who acquired securities in PACS Group, Inc. (NYSE: PACS) from April 11, 2024 through November 5, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company complied with applicable laws but then by scamming Medicare by charging for performing unnecessary procedures.

On November 4, 2024, Hindenburg Research published a report alleging, among other things, that PACS’ “turnaround” formula for transforming poorly performing skilled nursing facilities “largely boils down to systematically scamming taxpayer-funded healthcare programs.” The report alleges that the Company “abused a COVID-era waiver,” “bill[ed] thousands of unnecessary respiratory and sensory integration therapies to Medicare Part B regardless of clinical need or outcomes,” and “employs unlicensed administrators,” among other allegations. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in PACS Group, Inc. (NYSE: PACS) from April 11, 2024 through November 5, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.