Archived Investigations

PACS Group, Inc. (NYSE: PACS)

Company Name:PACS Group, Inc.

Stock Symbol:NYSE: PACS

Court:Southern District of New York

Class Period Start:04/11/2024

Class Period End (inclusive):11/05/2024

Filing Deadline:The deadline has passed.

November 14, 2024

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 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.

Click here to read the first filed complaint.

Click here to read the subsequent complaint.

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Topics:

What Information Do We Collect About You?
How Do We Collect Information About You?
How Will We Use Information We Collect About You?
Marketing
Access to Your Information and Correction
Your California Privacy Rights
Cookies
Data Retention and Storage
Changes to Our Privacy Policy
How to Contact Us