NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 13, 2025 to file lead plaintiff applications in a securities class action lawsuit against PACS Group, Inc. (NYSE: PACS), if they purchased or otherwise acquired the Company’s (a) common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s April 2024 initial public offering (“IPO” or the “Offering”); and/or (b) securities between April 11, 2024 and November 5, 2024 inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of PACS as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-pacs/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 13, 2025.
About the Lawsuit
PACS and certain of its executives are charged with failing to disclose material information in the Registration Statement and during the Class Period, violating federal securities laws.
On November 6, 2024, pre-market, the Company 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” and that it would postpone filing its 3Q 2024 earnings release. On this news, the price of PACS’ shares fell $11.45 or 38.76%, to close at $18.09 per share on November 6, 2024, on unusually heavy trading volume.
The case is Manchin v. PACS Group, Inc., et al., No. 24-cv-8636.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
