NEW YORK--(BUSINESS WIRE)--Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of PACS Group, Inc. (NYSE: PACS) resulting from allegations that PACS Group may have issued materially misleading business information to the investing public.
So What: If you purchased PACS Group securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=30617 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
What is this about: On November 4, 2024, Hindenburg Research issued a report entitled “PACS Group: How To Become A Billionaire In The Skilled Nursing Industry By Systematically Scamming Taxpayers.” This Report sated that “[d]espite operating in a highly competitive and highly regulated industry, PACS claims to have discovered a winning ‘turnaround’ formula for transforming poorly performing [skilled nursing facilities] into cash spigots”, and that Hindenburg’s “5-month investigation, including interviews with 18 former employees, competitors, and an analysis of 900+ detailed facility-level cost reports, revealed that PACS’ ‘turnaround’ strategy largely boils down to systematically scamming taxpayer-funded healthcare programs.”
On this news, PACS Group stock fell 27.7% on November 4, 2024.
Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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