Lead Plaintiff Deadline is January 13, 2025
New York, New York–(Newsfile Corp. – January 11, 2025) – Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international consumer and shareholder rights litigation firm, notifies investors that the deadline to advance lead plaintiff in a securities class action lawsuit against PACS Group, Inc. (NYSE: PACS) (“PACS” or the “Company”) and other defendants (collectively, “Defendants”) is January 13, 2025.
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The action, which was filed in the U.S. District Court for the Southern District of New York, asserts claims under Sections 11, 12(a)(2) and 15 of the Securities Act ( the “Securities Act”) and Section 15. §10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) on behalf of a Class consisting of all persons who purchased or otherwise acquired PACS securities between April 11, 2024 and November 5, 2024, inclusive (the “Class Period”), and common shares pursuant to, or traceable to, or both, the offering September 2024 PACS secondary public and who were damaged thereby (the “Class”).
According to the Complaint, throughout the Class Period, Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company’s operations and business prospects. Specifically, Defendants failed to disclose to investors that, among other things: (1) the Company inflated its Medicare revenue by misclassifying patients and (2) fraudulently billed unnecessary treatments and services that were never provided to patients. .
When the truth came to light, according to the complaint, PACS’s stock price fell $11.93 per share, or more than 27%, to close at $31.01 per share on Nov. 4, 2024, hurting thus to investors.
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Lead Plaintiff Deadline
The lead plaintiff deadline in this action is January 13, 2025. Any member of the proposed class may seek to serve as lead plaintiff through counsel of his or her choice, 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 damages, whether realized 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 Lawyers LLP
Scott+Scott has significant experience prosecuting significant securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals and other entities throughout the world with offices in New York, London, Amsterdam, Connecticut, Virginia, California and Ohio.
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