LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of PACS Group, Inc. (“PACS” or the “Company”) (NYSE: PACS) on behalf of investors concerning the Company’s possible violations of federal securities laws.
If you are a shareholder who suffered a loss, click here to participate.
On November 4, 2024, Hindenburg Research published a report alleging, among other things, that PACS’ “turnaround” formula for transforming poorly performing skilled nursing facilities “largely boils down to systematically scamming taxpayer-funded healthcare programs.” The report alleges that the Company “abused a COVID-era waiver,” “bill[ed] thousands of unnecessary respiratory and sensory integration therapies to Medicare Part B regardless of clinical need or outcomes,” and “employs unlicensed administrators,” among other allegations.
On this news, PACS’ stock price fell $11.93, or 27.8%, to close at $31.01 per share on November 4, 2024, thereby injuring investors.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased PACS securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
