NEWTOWN, Pa. , Nov. 10, 2024 /PRNewswire/ -- Edelson Lechtzin LLP is investigating potential violations of the federal securities laws involving PACS Group Inc.
(NASDAQ: PACS ) resulting from allegations of providing misleading business information to the investing public. If you have non-public information that could assist in the PACS Group Inc. investigation or if you are a PACS Group Inc.
investor who suffered a loss and would like to learn more, you can provide your information HERE . You can also contact attorney Eric Lechtzin of Edelson Lechtzin LLP by calling 844-563-5550 (ext. 1) or via e-mail at [email protected] .
THE COMPANY: PACS Group Inc., through its subsidiaries, operates various skilled nursing facilities (SNF) and assisted living facilities (ALF). PACS Group also owns subsidiaries that are engaged in the acquisition, ownership, and leasing of healthcare-related properties.
As of June 2024 , PACS Group subsidiaries operated 220 healthcare facilities. THE ALLEGED WRONGDOING: On November 4, 2024 , Hindenburg Research published a report of its investigation of PACS Group, which "revealed that PACS' 'turnaround' strategy largely boils down to systematically scamming taxpayer-funded healthcare programs." As an example, the report cites PACS' abuse of a COVID-era waiver, that allowed it to inappropriately access "skilled care Medicare benefits for thousands of patients across its national portfolio of facilities.
.." Hindenburg estimates that this "scheme drove mor.