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RADNOR, PA — (NewMediaWire) — January 4, 2025 — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) has been announced by PACS Group, Inc. (PACS) notifies investors that a securities class action lawsuit has been filed. ) (NYSE: PACS ). The suit is brought on behalf of investors who purchased or otherwise acquired PACS: 1) pursuant to common stock and/or through the screening process (collectively, the registration statement) issued in connection with PACS’s April 11, 2024 initial public offering (the registration statement) IPO); and/or 2) securities between April 11, 2024 and November 5, 2024 (Class Period). The lead plaintiff deadline is January 13, 2025.
Contact and verify Kessler Topaz Melzer, LLP:
If you have a PACS bankruptcy, you can click here or go to https://www.ktmc.com/new-cases/pacs-group-inc?utm_source=PR&utm_medium=link&utm_campaign=pacs&mktm=r
Also attorney Jonathan Nagy, Esq. Call (484) 270-1453 or email info@ktmc.com.
Accused of misconduct:
The complaint alleges that in the registration statement and throughout the class period, the defendants made materially false and/or misleading statements, and failed to disclose material adverse facts about the companies’ business, operations and prospects. Specifically, Defendants failed to disclose to investors that: (1) PACS planned to submit false Medicare claims from 2020 to 2023, which accounted for more than 100% of PACS’s operating and net income; (2) the company engaged in a scheme to bill Medicare for thousands of unnecessary respiratory and sensory therapies; (3) PACS engaged in a scheme to falsify documents related to licensing and personnel management; and (4) for the reasons set forth above, the defendants’ positive statements about the companies’ business, practices and prospects are materially misleading and/or have no reasonable basis.
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Lead Plaintiff Procedure:
PACS investors, no later than January 13, 2025, may seek to appoint through Kessler Topaz Meltzer & Check, LLP or other counsel as the class’s lead plaintiff representative, or they may choose to do nothing and remain a member of the absent class. A lead plaintiff is the representative party who leads the litigation on behalf of all class members. The lead plaintiff is usually the investor or a small group of investors with the largest financial interest and who are also sufficient and typical of the target investor class. The lead plaintiff selects counsel to represent the lead plaintiff and the class, and these attorneys are either lead or class counsel if approved by the court. Your ability to participate in any recovery will not affect the decision to serve as lead plaintiff or not.
Kessler Topaz Meltzer & Check, LLP encourages PACS investors who have experienced significant losses to contact the firm directly for additional information.
Click here to register for the case or go to https://www.ktmc.com/new-cases/pacs-group-inc?utm_source=PR&utm_medium=link&utm_campaign=pacs&mktm=r
About KESSLER Topaz Meltzer & Czech, LLP:
Kessler Topaz Meltzer & Check, LLP litigates class actions in state and federal courts across the country and around the world. The firm has developed an international reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate wrongdoing. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, defamation, misconduct and negligence by businesses and fiduciaries. The complaints in this action were not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
Contact:
Kessler Topaz Meltzer & Check, LLP
Jonathan Nagy, Esq.
(484) 270-1453
280 King of Prussia road
Radnor, PA 19087
info@ktmc.com
In some jurisdictions it may be considered a lawyer’s notice. Past results do not guarantee future results.
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