Lead Plaintiff’s Deadline is January 13, 2025

New York, New York–(Newsfile Corp. – January 11, 2025) – Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, informs investors that the deadline for the 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, filed in the US District Court for the Southern District of New York, asserts claims under §§11, 12(a)(2), and 15 of the Securities Act (the “Securities Act”) and under § §10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) for a Class consisting of all persons who have purchased or have purchased The securities of PACS between April 11, 2024, and November 5, 2024, inclusive (the “Class Period”), and common stock pursuant to, or traceable to, or both, PACS’s September 2024 secondary public offering and who are the losers for this reason (the “Class “).

According to the Complaint, during the Class Period, the Defendants made materially false and/or misleading statements, and failed to disclose materially adverse facts about the Company’s business operations, and prospects. Specifically, Defendants failed to disclose to investors that, among other things: (1) the Company inflated Medicare revenues by misclassifying patients, and (2) fraudulently billed for nothing necessary treatments and services not provided to patients.

When the truth came out, according to the Complaint, PACS’s share price fell $11.93 per share, or more than 27%, to close at $31.01 per share on November 4, 2024, thereby hurting investors.

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Main Date of Plaintiff

The Lead Plaintiff deadline for this action is January 13, 2025. Any member of the proposed Class may seek to serve as Lead Plaintiff through counsel of their choosing, or may choose to do nothing and remain a member of the proposed Class.

If you purchased PACS securities during the Class, and have suffered damages, 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 Attorneys at Law LLP

Scott+Scott has significant experience prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, Virginia, California, and Ohio.

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To view the original version of this press release, please visit https://www.newsfilecorp.com/release/235614