NEW YORK, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against PACS Group, Inc. (“PACS Group” or the “Company”) (NYSE: PACS) on behalf of PACS Group stockholders. Our investigation concerns whether PACS Group has violated the federal securities laws and/or engaged in other unlawful business practices.
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On November 4, 2024, Hindenburg Research issued a report entitled “PACS Group: How To Become A Billionaire In The Skilled Nursing Industry By Systematically Scamming Taxpayers.” This Report stated that “[d]espite operating in a highly competitive and highly regulated industry, PACS claims to have discovered a winning ‘turnaround’ formula for transforming poorly performing [skilled nursing facilities] into cash spigots”, and that Hindenburg’s “5-month investigation, including interviews with 18 former employees, competitors, and an analysis of 900+ detailed facility-level cost reports, revealed that PACS’ ‘turnaround’ strategy largely boils down to systematically scamming taxpayer-funded healthcare programs.”
On this news, PACS Group stock fell 27.7% on November 4, 2024.
If you purchased or otherwise acquired PACS Group shares and suffered a loss, are a long-term stockholder, have information, 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 Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
