NEW ORLEANS, Nov. 20, 2024 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds 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.
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PACS investors should visit us at https://claimsfiler.com/cases/nyse-pacs/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
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.
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