Law Offices of Howard G. Smith announces an investigation on behalf of PACS Group, Inc. (“PACS” or the “Company”) (NYSE: PACS) investors concerning the Company’s possible violations of federal securities laws.
On November 4, 2024, Hindenburg Research published a report alleging, among other things, that PACS’ “turnaround” formula for transforming poorly performing skilled nursing facilities “largely boils down to systematically scamming taxpayer-funded healthcare programs.” The report alleges that the Company “abused a COVID-era waiver,” “bill[ed] thousands of unnecessary respiratory and sensory integration therapies to Medicare Part B regardless of clinical need or outcomes,” and “employs unlicensed administrators,” among other allegations.
On this news, PACS’ stock price fell $11.93, or 27.8%, to close at $31.01 per share on November 4, 2024, thereby injuring investors.
If you purchased PACS securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241106262281/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
