Kaskela Law Firm Announces Investigation of PACS Group, Inc. (PACS) and Encourages Long-Term PACS Shareholders to Contact the Firm
Investor litigation firm Kaskela Law announces that it is investigating PACS Group, Inc. (NYSE: PACS) (“PACS”) on behalf of the company’s long-term investors.
Click here for additional information: https://kaskelalaw.com/case/pacs-group/
Recently a federal securities fraud complaint was filed against PACS on behalf of certain investors who purchased shares of the company’s stock between April 11, 2024 and December 16, 2024 (the “Wrongdoing Period”). According to the complaint, during the Wrongdoing Period, PACS and several of the company’s officers made a series of materially false and misleading statements and omissions to investors regarding PACS’ rapid growth and profitability, primarily driven by the company’s manipulation of billing practices that exploited taxpayer-funded programs.
As further detailed in the complaint, on November 4, 2024, Hindenburg Research published a report titled “PACS Group: How to Become A Billionaire In The Skilled Nursing Industry By Systematically Scamming Taxpayers.” That Report “revealed PACS’s COVID-19 Waiver scheme, the Medicare Part B scheme, the licensing scheme, and other misconduct.” Following the release of the Hindenburg Report, shares of PACS’ stock declined approximately 40% in value, to close on November 6, 2024 at $ 18.09 per share.
