Security Investigation
PACS Group, Inc. (NYSE: PACS)
24 Days left to seek lead plaintiff status.
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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) securities between April 11, 2024 and November 5, 2024 inclusive (the “Class Period”), and/or b) shares 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”), and/or the Company’s September 2024 secondary public offering (“SPO”).
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.
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 fill out the form on this page.
The first-filed case is Manchin v. PACS Group, Inc., et al., No. 24-cv-8636. A second case, New Orleans Employees’ Retirement System v. PACS Group, Inc., et al., 24-cv-8882, extended the Class Definition.