NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against PACS Group, Inc. (“PACS” or the “Company”) (NYSE: PACS). The investigation concerns whether PACS and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
[Click here to learn more about the investigation]
On November 4, 2024, Hindenburg Research issued a report questioning PACS claims to have discovered a winning turnaround formula for transforming poor performing skilled nursing facilities into “cash spigots”. The report revealed that PACS’ turnaround strategy boils down to “systematically scamming taxpayer-funded healthcare program,” including billing for services and procedures that were not needed and/or rendered. On this news, the price of PACS shares declined by $11.93 per share, or approximately 28%, from $42.94 per share on November 1, 2024, to close at $31.01 on November 4, 2024.
If you purchased or otherwise acquired PACS securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
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