Medicare

Investors File Lawsuit Against PACS Group Over Alleged False Medicare Claims and Misleading Statements Post-IPO

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Radnor, PA – A new class action lawsuit has been filed by the law firm Kessler Topaz Meltzer & Check, LLP against PACS Group, Inc., a recent issuer of public securities. The lawsuit, lodged in the United States District Court for the Southern District of New York, represents investors who acquired shares of PACS either through its initial public offering on April 11, 2024, or on the open market prior to November 5, 2024. The legal action centers on allegations that PACS Group misled investors in its registration statement by failing to disclose certain damaging … Read more

Federal Judge Dismisses Pharmaceutical Industry Lawsuit Over Medicare Drug Pricing Program

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Austin, Texas – A federal judge in Austin has dismissed a lawsuit brought by pharmaceutical industry bodies challenging a new Medicare program that allows the government to negotiate prices for expensive drugs. U.S. District Judge David Ezra, appointed by Ronald Reagan, sided with the Biden administration in throwing out the lawsuit. The Pharmaceutical Research and Manufacturers of America (PhRMA) group and two others had claimed the program was unconstitutional. Under the program, known as the Inflation Reduction Act, the Department of Health and Human Services is authorized to seek lower prices for certain drugs, ultimately … Read more