PHILADELPHIA, Jan.  30, 2025  (GLOBE NEWSWIRE) -- Grabar Law Office is investigating claims on behalf of PACS Group, Inc. (NYSE: PACS) shareholders. The investigation concerns whether certain officers and directors of PACS breached the fiduciary duties they owed to the company.

If you are a current shareholder who purchased PACS Group shares on or near the Company’s April 11, 2024 IPO, you can seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever.Please visit https://grabarlaw.com/the-latest/pacs-shareholder-investigation/, contact Joshua Grabar at [email protected], or call us at 267-507-6085

WHY? On November 4, 2024, investment research firm Hindenburg Research published a report that accused PACS Group, Inc. (NYSE:PACS) of engaging in fraudulent practices. A federal securities fraud class action Complaint soon followed in which it is alleged that in the Registration Statement and throughout the Class Period (April 11, 2024 to November 5, 2024), PACS Group, through certain of its officers, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, it is alleged that Defendants failed to disclose to investors: (1) that the Company engaged in a “scheme” to submit false Medicare claims which “drove more than 100% of PACS’ operating and net income from 2020 – 2023”; (2) that the Company engaged in a “scheme” to “bill thousands of unnecessary respiratory and sensory integration therapies to Medicare”; (3) that the Company engaged in a scheme to falsify documentation related to licensure and staffing; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

WHAT YOU CAN DO NOW: If you purchased PACS Group shares on or near the April 11, 2024 IPO, you are encouraged to visit https://grabarlaw.com/the-latest/pacs-shareholder-investigation/, contact Joshua Grabar at [email protected], or call 267-507-6085. You can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever.

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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel:  267-507-6085
Email: [email protected]