PACS Group, Inc. Investors: January 13, 2025 Filing Deadline in Securities Class Action - Contact Lieff Cabraser
PACS Group, a senior care facilities operator, faces a securities class action lawsuit with a filing deadline of January 13, 2025. The lawsuit covers investors who purchased PACS stock between April 11, 2024, and November 5, 2024, including those who bought shares during the company's IPO and SPO.
The lawsuit alleges that PACS made false statements and failed to disclose its involvement in Medicare fraud schemes, including submitting false claims that generated over 100% of its operating income from 2020-2023, billing unnecessary therapies, and falsifying documentation.
Following a Hindenburg Research report on November 4, 2024, PACS stock fell 27.78% to $31.01. The stock dropped another 38.76% to $18.09 on November 6 after the company postponed Q3 earnings and disclosed federal civil investigative demands regarding its reimbursement practices.
PACS Group, un operatore di strutture per la cura degli anziani, affronta una causa collettiva in materia di titoli con una scadenza di deposito fissata per il 13 gennaio 2025. La causa riguarda gli investitori che hanno acquistato azioni PACS tra l'11 aprile 2024 e il 5 novembre 2024, compresi coloro che hanno comprato azioni durante l'IPO e lo SPO della società.
La causa sostiene che PACS ha fatto dichiarazioni false e non ha rivelato il proprio coinvolgimento in schemi di frode Medicare, tra cui la presentazione di richieste fraudolente che hanno generato oltre il 100% del suo reddito operativo dal 2020 al 2023, la fatturazione di terapie non necessarie e la falsificazione di documentazione.
Dopo un rapporto di Hindenburg Research del 4 novembre 2024, le azioni PACS sono scese del 27,78% a $31,01. Le azioni sono ulteriormente scese del 38,76% a $18,09 il 6 novembre, dopo che la società ha posticipato i risultati del terzo trimestre e ha rivelato richieste di indagine civili federali riguardo alle sue pratiche di rimborso.
PACS Group, un operador de instalaciones de atención a personas mayores, enfrenta una demanda colectiva de valores con una fecha límite de presentación del 13 de enero de 2025. La demanda abarca a los inversores que compraron acciones de PACS entre el 11 de abril de 2024 y el 5 de noviembre de 2024, incluidos aquellos que compraron acciones durante la OPI y la SPO de la empresa.
La demanda alega que PACS hizo declaraciones falsas y no reveló su participación en esquemas de fraude de Medicare, incluidos la presentación de reclamaciones falsas que generaron más del 100% de sus ingresos operativos de 2020 a 2023, facturación de terapias innecesarias y falsificación de documentación.
Tras un informe de Hindenburg Research el 4 de noviembre de 2024, las acciones de PACS cayeron un 27,78% a $31,01. Las acciones cayeron otro 38,76% a $18,09 el 6 de noviembre después de que la empresa pospuso los resultados del tercer trimestre y divulgó demandas de investigación civil federal sobre sus prácticas de reembolso.
PACS Group는 노인 돌봄 시설 운영업체로, 2025년 1월 13일로 설정된 제출 마감일이 있는 증권 집단 소송에 직면해 있습니다. 이 소송은 2024년 4월 11일부터 2024년 11월 5일 사이에 PACS 주식을 구매한 투자자들을 포함하며, 회사의 IPO 및 SPO 동안에 주식을 구매한 투자자들도 포함됩니다.
소송에서는 PACS가 허위 진술을 하고 Medicare 사기 계획에 대한 참여 사실을 공개하지 않았다고 주장하며, 2020년부터 2023년까지 운영 수익의 100% 이상을 생성한 허위 청구를 제출하고, 필요 없는 치료를 청구하며, 문서를 위조했다고 주장합니다.
2024년 11월 4일 Hindenburg Research의 보고서 이후 PACS 주가는 27.78% 하락하여 $31.01에 도달했습니다. 11월 6일 회사가 3분기 실적 발표를 연기하고 환급 관행에 대한 연방 민사 조사 요구를 공개한 후, 주가는 또 다른 38.76% 하락하여 $18.09가 되었습니다.
PACS Group, un opérateur d'établissements de soins pour personnes âgées, fait face à une action collective en valeurs mobilières avec une date limite de dépôt fixée au 13 janvier 2025. L'action concerne les investisseurs ayant acheté des actions PACS entre le 11 avril 2024 et le 5 novembre 2024, y compris ceux qui ont acheté des actions lors de l'introduction en bourse (IPO) et de la vente secondaire (SPO) de l'entreprise.
L'action en justice prétend que PACS a fait de fausses déclarations et a omis de révéler sa participation à des schémas de fraude Medicare, notamment en soumettant de fausses demandes ayant généré plus de 100 % de ses revenus d'exploitation de 2020 à 2023, en facturant des thérapies inutiles et en falsifiant des documents.
Suite à un rapport de Hindenburg Research le 4 novembre 2024, l'action PACS a chuté de 27,78 %, atteignant 31,01 $. L'action a encore chuté de 38,76 %, atteignant 18,09 $ le 6 novembre, après que l'entreprise ait reporté la publication de ses résultats du troisième trimestre et divulgué des demandes d'enquête civile fédérale concernant ses pratiques de remboursement.
PACS Group, ein Betreiber von seniorenpflegenden Einrichtungen, sieht sich mit einer Sammelklage im Wertpapierbereich konfrontiert, dessen Frist für die Einreichung am 13. Januar 2025 endet. Die Klage umfasst Anleger, die zwischen dem 11. April 2024 und dem 5. November 2024 Aktien von PACS gekauft haben, einschließlich derjenigen, die während des IPO und SPO des Unternehmens Aktien erwarben.
Die Klage behauptet, dass PACS falsche Aussagen gemacht und seine Beteiligung an Medicare-Betrugsplänen nicht offengelegt hat, einschließlich der Einreichung falscher Ansprüche, die über 100% seines Betriebseinkommens von 2020 bis 2023 generierten, der Abrechnung unnötiger Therapien und der Fälschung von Dokumenten.
Nach einem Bericht von Hindenburg Research am 4. November 2024 fiel der Kurs der PACS-Aktien um 27,78% auf $31,01. Am 6. November fiel die Aktie um weitere 38,76% auf $18,09, nachdem das Unternehmen die Bekanntgabe der Q3-Ergebnisse verschoben und bundesstaatliche zivilrechtliche Ermittlungsforderungen zu seinen Rückerstattungspraktiken offengelegt hatte.
- None.
- Securities class action lawsuit filed against the company
- Allegations of extensive Medicare fraud schemes affecting 100% of operating income
- Stock price dropped 27.78% following Hindenburg Research report
- Additional 38.76% stock price decline after postponing Q3 earnings
- Federal investigation into reimbursement and referral practices
- Accusations of falsifying documentation for licensure and staffing
Insights
The class action lawsuit against PACS Group reveals serious allegations of systematic Medicare fraud and deceptive practices. The claims center on multiple schemes including false Medicare billing, unnecessary therapy claims and licensure fraud that allegedly accounted for over
The dual legal exposure under both the Securities Act of 1933 and Exchange Act of 1934 creates substantial liability risk. The federal investigation and civil investigative demands further compound the legal challenges. The timing of the alleged fraud spanning both the IPO and SPO periods could invalidate the registration statements, potentially forcing share buybacks at offering prices.
The severe stock price deterioration - falling from
The
SAN FRANCISCO, CA / ACCESSWIRE / December 16, 2024 / National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages investors in PACS Group, Inc. ("PACS" or the "Company") (NYSE:PACS) who purchased or otherwise acquired PACS common stock between April 11, 2024, and November 5, 2024, inclusive (the "Class Period"), including investors who purchased PACS common stock pursuant and/or traceable to the registration statements issued in connection with PACS's April 11, 2024 initial public offering ("IPO"), and/or the Company's September 6, 2024secondary public offering ("SPO"), to contact us immediately regarding a pending securities class action against PACS. The deadline to apply to be lead plaintiff is January 13, 2025.
Class Period: April 11, 2024 - November 5, 2024
Lead Plaintiff Motion Deadline: January 13, 2025
Case information: lieffcabraser.com/securities/pacs-group
Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358
PACS, incorporated in California and headquartered in Farmington, Utah, is a holding company that, through its subsidiaries, operates senior care facilities, skilled nursing facilities, and assisted living facilities.
The actions allege that PACS made materially false and misleading statements and omissions throughout the Class Period, including in its IPO and SPO registration statements, and failed to disclose material adverse facts about its business, operations, and prospects, including: (1) that the Company conducted a "scheme" to submit false claims to Medicare which "drove more than
On November 4, 2024, Hindenburg Research published a report based on its five-month investigation that included interviews with 18 former PACS employees, competitors, and an analysis of over 900 PACS facility cost reports.
The report alleged that PACS had engaged in fraudulent practices, including: (1) abusing a COVID-era waiver to classify low-acuity patients as high-acuity and inflate Medicare reimbursements; (2) billing for unnecessary or nonexistent treatments, including respiratory and sensory integration therapies; (3) falsifying staffing documentation to inflate star ratings and avoid penalties; and (4) "renting" licenses to deceive regulators by borrowing credentials from third parties and employing unlicensed administrators or assigning administrators to manage facilities beyond state-mandated limits.
On this news, the price of PACS common stock fell
On November 6, 2024, the Company announced that it would postpone its third-quarter earnings release and disclosed that it had "received civil investigative demands from the federal government regarding the Company's reimbursement and referral practices that may or may not be related to this week's third-party report." On this news, the price of PACS common stock fell
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with over 125 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Repeatedly recognized as a "Plaintiffs' Powerhouse" by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over
Source/Contact
Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com
SOURCE: Lieff Cabraser Heimann & Bernstein
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FAQ
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