PACS Investor Alert: A Securities Fraud Class Action Lawsuit Has Been Filed Against PACS Group, Inc.- Contact Kessler Topaz Meltzer & Check, LLP
PACS Investor Alert: A Securities Fraud Class Action Lawsuit Has Been Filed Against PACS Group, Inc.- Contact Kessler Topaz Meltzer & Check, LLP . (MENAFN - EIN Presswire) 
 
  RADNOR, Pa., Nov. 16, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP ( ) informs investors that a securities class action lawsuit has been ...
América - MenaFN
(MENAFN- EIN Presswire) RADNOR, Pa., Nov. 16, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP ( ) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against PACS Group, Inc. (“PACS”) (NYSE: PACS ). The lawsuit is brought on behalf of investors who purchased or otherwise acquired PACS: 1) common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the“Registration Statement”) issued in connection with PACS' April 11, 2024 initial public offering (the“IPO”); and/or 2) securities between April 11, 2024 and November 5, 2024 inclusive (the“Class Period”). The lead plaintiff deadline is January 13, 2025.

You can also contact attorney href="" rel="nofollow" target="_blank"> Jonathan Naji, Esq. by calling (484) 270-1453 or by email at ... .

DEFENDANTS' ALLEGED MISCONDUCT:

The complaint alleges that, in the Registration Statement and throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) PACS engaged in a scheme to submit false Medicare claims which drove more than 100% of PACS' operating and net income from 2020 – 2023; (2) the company engaged in a scheme to bill thousands of unnecessary respiratory and sensory integration therapies to Medicare; (3) PACS engaged in a scheme to falsify documentation related to licensure and staffing; and (4) as a result of the foregoing, Defendants' positive statements about the company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

THE LEAD PLAINTIFF PROCESS:

PACS investors may, no later than January 13, 2025, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

Kessler Topaz Meltzer & Check, LLP encourages PACS investors who have suffered significant losses to contact the firm directly to acquire more information.

Text>

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, 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 .

CONTACT:

Kessler Topaz Meltzer & Check, LLP

Jonathan Naji, Esq.

(484) 270-1453

280 King of Prussia Road

Radnor, PA 19087

href="" rel="nofollow" target="_blank">...

May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.

-p

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Jordania
https://menafn.com/images/Menafn_SmallLogo.jpg
https://menafn.com/1108892950/PACS-Investor-Alert-A-Securities-Fraud-Class-Action-Lawsuit-Has-Been-Filed-Against-PACS-Group-Inc-Contact-Kessler-Topaz-Meltzer-Check-LLP
2024-11-16
rss
(MENAFN - EIN Presswire) 
 
  RADNOR, Pa., Nov. 16, 2024 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP ( ) informs investors that a securities class action lawsuit has been ...
PACS Investor Alert: A Securities Fraud Class Action Lawsuit Has Been Filed Against PACS Group, Inc.- Contact Kessler Topaz Meltzer & Check, LLP