NEW YORK, Dec. 08, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against PACS Group, Inc. (NYSE: PACS) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in PACS, you are encouraged to obtain additional information by visiting : https://www.bfalaw.com/cases-investigations/pacs-group-inc . Investors have until January 13, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 11 and 15 of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in PACS securities. The case is pending in the U.S. District Court for the Southern District of New York and is captioned Manchin v. PACS Group, Inc. , et al. , No. 24-cv-08636. What is the PACS Lawsuit About? The Complaint alleges that PACS is one of the largest operators of skilled nursing facilities in the United States. As alleged, PACS repeatedly represented to shareholders that it possesses a winning “turnaround” strategy to make its nursing facilities profitable. However, in truth, it is alleged that PACS’s turnaround was driven by illicitly accessing Medicare benefits for thousands of patients. On November 4, 2024, prominent investment research firm Hindenburg Research published a report titled: “PACS Group: How to Become A Billionaire In The Skilled Nursing Industry By Systematically Scamming Taxpayers.” After a 5-month investigation that included interviews with 18 former PACS employees, competitors, and an analysis of more than 900 PACS facility cost reports, Hindenburg alleged that “PACS abused a COVID-era waiver, inappropriately accessing skilled care Medicare benefits for thousands of patients across its national portfolio of facilities.” Hindenburg further estimated that “the scheme drove more than 100% of PACS’ operating and net income from 2020 – 2023, enabling PACS to IPO in early 2024 with the illusion of legitimate growth and profitability.” On November 6, 2024, PACS then announced that it was postponing its Q3 earnings and 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.” The news caused a significant decline in the price of PACS stock. On November 4, 2024, the price of the company’s stock fell 27.8%, from a closing price of $42.94 per share on November 1, 2024, to $31.01 per share on November 4, 2024. On November 6, 2024, the price of the company’s stock fell 38.8%, from a closing price of $29.54 per share on November 5, 2024, to $18.09 per share on November 6, 2024. Click here if you Suffered Losses: https://www.bfalaw.com/cases-investigations/pacs-group-inc . What Can You Do? If you invested in PACS you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: https://www.bfalaw.com/cases-investigations/pacs-group-inc Or contact: Ross Shikowitz ross@bfalaw.com 212-789-3619 Why Bleichmar Fonti & Auld LLP? Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd. For more information about BFA and its attorneys, please visit https://www.bfalaw.com . https://www.bfalaw.com/cases-investigations/pacs-group-inc Attorney advertising. Past results do not guarantee future outcomes.quarterback is out for Week 12's matchup with the . Defensive end will not play either. Purdy did not practice on Friday, which made his status uncertain. But head coach Kyle Shanahan officially announced he was out when meeting with reporters after practice. will start at quarterback versus Green Bay. Additionally, left tackle is listed as questionable with an ankle injury and will be a game-time decision, according to Shanahan. Kyle Shanahan shares final injury updates ahead of . — San Francisco 49ers (@49ers) Earlier on Friday, on its injury report. He was previously listed as questionable, but has now been officially downgraded. Bosa was also listed as out on the injury report due to hip and oblique issues. He suffered the injury in practice on Nov. 6 and played through the injury in Week 10's matchup with . The pass rusher left last week's matchup with the Seahawks in the third quarter and did not return. Following the game, Bosa told reporters that he while compensating for the hip injury. Williams suffered his injury in Week 10, as well. He played against Seattle after taking a painkilling injection for his ankle, but that may have made the situation worse. The veteran offensive lineman did not participate in practice all week. Brock Purdy is NOT practicing as 49ers final session underway in rain before flight to Green Bay — Cam Inman (@CamInman) Right shoulder soreness on Wednesday and Thursday, and he did not participate in the team's final practice session before traveling to Green Bay. General manager John Lynch that Purdy had an MRI and described his status for Sunday as "tenuous." "Hopefully, he makes progress, and we can have a shot at this weekend, but we’ll see," Lynch said. "I think it’s tenuous.” Brock Purdy shuts himself down mid practice. — Grant Cohn (@grantcohn) At Thursday's practice, Purdy's participation consisted of soft throws while San Francisco's other three quarterbacks went through drills with QB coach Brian Griese. Purdy stopped after approximately five minutes, had his shoulder worked on by trainers and went back to the locker room, according to reporters on the scene. Purdy appeared to suffer the injury during to the . He finished the game, yet did not make any throws over 10 yards following the hit that potentially injured him. There was no indication afterward that Purdy was hurt. Allen is in his second season with the 49ers after seeing no action behind Purdy and during the 2023-24 campaign. He played 2019 with the , followed by three seasons with the .... Demand Accountability A group of energy advocates and socio-economic activists has condemned the collapse of the Port Harcourt Refining Company, just weeks after the Nigerian National Petroleum Company Limited (NNPCL) claimed it had been restreamed. The Energy Reforms Advocates and Socio-Economic Activists, led by Dr Thomas Zion Godknows, at a press conference in Port Harcourt on Saturday, expressed their outrage over the failed rehabilitation project, which cost Nigerians $1.5 billion. According to the group, the refinery’s shutdown results from the NNPCL’s fraudulent conduct and blatant lies about the facility’s status. Godknows who described the the rehabilitation project as a scam accused the NNPCL of lying about the refinery’s status, claiming that it had been producing and distributing refined products when, in fact, it had stopped working altogether. The group also alleged that the NNPCL had converted the Port Harcourt Refining Company into a blending plant for passing off sanction-tainted crude oil from Russia, a claim the corporation had previously denied. “Recall that we categorically stated that the Port Harcourt Refining Company was no longer able to resume as a refinery because Mele Kyari, the Group Chief executive officer (GCEO) of NNPCL, with associates, has decided to convert it into a blending plant for passing off sanction-tainted crude oil from Russia,” the statement said. “The corporation again vehemently dismissed this fact as mischief. The actual mischief-maker became known when NNPCL put up a Nollywood show about reopening the refinery. Six trucks loaded residual or old stock, while NNPCL put up a Nollwood-worthy video production of 200 trucks loading petrol. “The shock from presenting residual stock as freshly refined products had barely settled on Nigerians before it emerged that the refinery was merely blending several concoctions to assuage Nigerians, who started asking questions. “The NNPCL floated the story about exporting refined products to the United Arab Emirates (UAE) the moment Nigerians started asking questions about the dangers that the blended concoction posed to their vehicles. “True to form, Kyari purged the concoction from Port Harcourt Refinery to Dubai-based Gulf Transport & Trading Limited (GTT), an entity conveniently set up by Adisu Aliyu, a proxy for Mele Kyari, who runs his syndicates. “The collapse of the Port Harcourt Refinery is a glaring reminder of the urgent need to reform NNPCL. It is also a wake-up call to insulate the other refineries from the ravages of NNPCL. “This is why we are now demanding full disclosure of Warri Refineries. Will Warri Refinery become another blending plant that will function for only 23 days and collapse? What tales by moonlight are we going to hear about the other refineries? “The lack of transparency in NNPCL’s operations is of grave concern. The public deserves clear and honest disclosure regarding the challenges and progress of something as critical as the Port Harcourt refinery to the nation’s energy security. The absence of detailed explanations and accountability measures only validates distrust among stakeholders.” The group, therefore, urged the Federal Government to conduct an independent audit of the Port Harcourt Refinery rehabilitation project to identify the root causes of the failures and ensure accountability for the mismanagement of funds.Although the allegations took place in Scotia, the case was reassigned to Schenectady Judge Teneka Frost as a result of acting village Judge Michael Godlewski and Glenville Town Justice Michael Boyle recusing themselves. The arraignment is scheduled to occur on Jan. 6 at 10 a.m, according to a city criminal court clerk. The Times Union first reported on the court date. According to the newspaper, Mastroianni lawyer Brian Mercy said the current Rotterdam Town Board member plans to plead not guilty. Neither the Schenectady-based criminal justice attorney nor Mastroianni immediately responded to a request for comment. Days after losing to Santabarbara, Mastroianni voluntarily surrendered to Scotia police over a misdemeanor charge of petit larceny. He was released. The case went public after the Schenectady County Democratic Committee released a doorcam video of the Republican-endorsed Conservative Rotterdam Town Board member and an unknown woman strolling up to a suburban Scotia residence on Oct. 17. Mastroianni said “bad, bad, bad” while he allegedly took a mailer from rival Assemblymember Angelo Santabarbara, D-Rotterdam, and then swapped it with his own flier. During a press event scheduled on the same day that the footage was released, Mastroianni refused to answer questions about the incident and, while ready off prepared remarks, labeled the case as a distraction from Santabarbara's politics. He hasn't since publicly addressed the incident per Mercy's advice. Mail theft is a federal crime. Convictions can amount to upwards of five years in prison. So far, the Daily Gazette Family of Newspapers has received no indication whether Mastroianni is being investigated on a federal level. Petit larceny can amount to upwards of one year in jail. Several Democratic officials, including Santabarbara and Schenectady County Democratic Committee Chairman Frank Salamone, who sent out the video, have called on Mastroianni to step down from office. Former GOP Assembly candidate Jeff Madden previously suggested that he would step down if he were in Mastroianni’s shoes. It’s not clear if the case will have any impact on the 2025 Rotterdam Town Board race. Mastroianni’s term is set to expire next year. He hasn’t publicly made any indication of whether he plans to run again. Currently, the Town Board is bereft of Democrats. Conservative Mastroianni was part of a coalition in 2021 that flipped the town government after years in Democratic hands. Rotterdam Town Supervisor Mollie Collins, a Conservative, has indicated that she doesn’t plan to seek re-election in the Schenectady suburb, which has swung for Conservatives, Republicans and Democrats in the past. So far, no candidates have formally announced ambitions to take the top post.
Longtime P.E.I. mayor resigns after a contentious vote for pickleball courtsWindtree Therapeutics Reports Third Quarter 2024 Financial Results and Provides Key Business UpdatesChristmas traditions bring joy and togetherness. People decorate trees and exchange gifts. Caroling and nativity scenes are popular. Families share festive meals. Stockings and candy canes add to the fun. Modern traditions include ugly sweaters. Celebrations vary worldwide. Christmas creates lasting memories and strengthens bonds. Christmas is a season rich in traditions, each with its own unique history and cultural significance. From decorating Christmas trees to exchanging gifts, these customs embody the spirit of the holiday, fostering joy, togetherness, and goodwill across the world. The Christmas Tree One of the most iconic symbols of Christmas, the tradition of decorating a tree dates back to 16th-century Germany. Evergreen trees were adorned with candles and ornaments to symbolize life and light during the dark winter months. Today, Christmas trees are decorated with twinkling lights, baubles, and tinsel, serving as a centerpiece for festive gatherings. Exchanging Gifts The practice of exchanging gifts during Christmas is rooted in the biblical story of the Magi, who brought gifts of gold, frankincense, and myrrh to baby Jesus. Over time, this evolved into a broader tradition of giving to loved ones as a symbol of love and generosity. Santa Claus, inspired by the legend of Saint Nicholas, has become the modern-day figure associated with Christmas gift-giving. Caroling and Christmas Music Singing carols is a cherished tradition that dates back to medieval times. Songs like Silent Night , Jingle Bells , and O Holy Night evoke the joy and reverence of the season. Caroling often brings communities together as groups go door-to-door sharing festive cheer through song. Advent and the Nativity Scene The Advent season, observed in the weeks leading up to Christmas, involves lighting candles on an Advent wreath to symbolize hope, peace, joy, and love. The Nativity scene, depicting the birth of Jesus in a manger, serves as a reminder of the holiday's religious significance and is displayed in churches and homes worldwide. Christmas Dinner Sharing a festive meal is a cornerstone of Christmas celebrations. Traditional dishes vary across cultures—from roasted turkey in the United States to panettone in Italy and nochebuena feasts in Latin America. The meal often includes family favorites and seasonal treats, bringing loved ones together around the table. Stockings and Candy Canes Hanging stockings by the fireplace is a beloved tradition believed to have originated from tales of Saint Nicholas. Candy canes, shaped like shepherds’ crooks, are a sweet reminder of the Nativity story and have become a favorite treat during the holiday season. Modern Traditions: Ugly Sweaters and Elf on the Shelf In recent years, new traditions like wearing Christmas-themed sweaters and the Elf on the Shelf have gained popularity. These playful customs add a touch of humor and creativity to the holiday season, particularly for families with young children. Celebrating Around the World Christmas traditions differ widely across countries. In Mexico, Las Posadas reenacts Mary and Joseph's search for shelter, while in Japan, enjoying a meal at KFC has become a popular modern custom. In Sweden, the Yule Goat is a centuries-old symbol of Christmas, and in Australia, beach barbecues often replace snowy festivities. The Spirit of Christmas While the specifics of Christmas traditions vary, the underlying themes of love, generosity, and community remain universal. These customs, passed down through generations, serve to bring people together, creating lasting memories and strengthening bonds. This holiday season, whether you're hanging ornaments on a tree, sharing a meal, or singing carols, take a moment to reflect on the traditions that make Christmas a time of joy and connection.
Blake's career receiving day helps Charlotte beat FAU 39-27Highly touted high school QB commits to Colorado, possible indicator Sanders is staying in Boulder
Are we moral blank slates at birth? A new study offers some cluesOne of the easiest ways to boost is through because of the portfolios they provide. Under-the-radar ASX ETFs could provide extra diversification that the biggest ETFs can't. If we look at some of the most popular ETFs, we can see that their portfolios are focused on just a few stocks. The ( ) has a heavy exposure to a few and . The ( ) is heavily allocated to the largest US companies. There are other share markets that are more attractive than Australia and the US, and there are other tech companies with growth potential beyond the largest ones. So, I'm going to outline two ASX ETFs that could be helpful investment options. Betashares India Quality ETF( ) India is a fascinating country with more than 1.4 billion people, according to the World Bank. Its economy is rapidly growing – Goldman Sachs suggests the Indian economy could grow at an average of 6.5% per year between 2025 and 2030. Goldman Sachs also suggests the Indian economy could be "relatively insulated against global shocks over the coming year — including tariffs levied by the new administration of US President-elect Donald Trump." The investment bank also expects the businesses represented within the 'MSCI India' to see earnings growth of 12% and 13%, respectively, for the calendar years 2024 and 2025. That's a little less than what other analysts expect. How can we gain exposure to the Indian economy? The IIND ETF owns a portfolio and . Since inception in August 2019, the ASX ETF has returned an average of 10.1% per year, which I think is a solid return. Betashares Cloud Computing ETF ( ) The world is becoming increasingly technological, partly thanks to businesses that provide operations related to the Internet and cloud computing. As Betashares says: Cloud computing has been one of the strongest-growing segments of the technology sector, and given much of the world's digital data and software applications are still maintained outside the cloud, continued strong growth has been forecast. Businesses must make a large percentage of their revenue from cloud computing services. Inclusion in the portfolio is prioritised for companies that generate a majority of their revenue from cloud-based services. The sorts of businesses that are in this ASX ETF's portfolio of 37 names include , , , , , and . Companies with digital operating models usually have pleasing operating leverage. They have already built their digital infrastructure, so more users or subscribers can boost profit margins because the new revenue can largely drop to the operating profit ( ) line of the financials.
Charlotte (4-7, 3-4 American Athletic Conference) fired Biff Poggi on Monday and Tim Brewster took over. FAU (2-9, 0-7) fired Tom Ferman, also on Monday, with Chad Lunsford taking charge. After Blake's third touchdown catch of the game that came with 5:25 left, the 49ers extended their lead when Tyriq Starks was strip-sacked by Ja'Qurious Conley and 335-pound Katron Kevans carried it 22 yards into the end zone. Blake made five catches for a career-high 205 yards, including a 75-yard touchdown. Purdie was 16 of 30 for a career-best 396 yards passing with the three scores plus an interception. The 49ers only rushed for 46 yards. Stephen Rusnak kicked four field goals. Starks was 12-of-23 passing for 179 yards including a 65-yard score to Omari Hayes in the final minute of the third quarter to get FAU within six of the 49ers. CJ Campbell rushed 58 yards to score early in the fourth quarter and the Owls had a 27-26 lead. Campbell finished with 150 yards on 21 carries. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football . Sign up for the AP’s college football newsletter: https://apnews.com/cfbtop25
NEW YORK, Dec. 08, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against PACS Group, Inc. (NYSE: PACS) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in PACS, you are encouraged to obtain additional information by visiting : https://www.bfalaw.com/cases-investigations/pacs-group-inc . Investors have until January 13, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 11 and 15 of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in PACS securities. The case is pending in the U.S. District Court for the Southern District of New York and is captioned Manchin v. PACS Group, Inc. , et al. , No. 24-cv-08636. What is the PACS Lawsuit About? The Complaint alleges that PACS is one of the largest operators of skilled nursing facilities in the United States. As alleged, PACS repeatedly represented to shareholders that it possesses a winning “turnaround” strategy to make its nursing facilities profitable. However, in truth, it is alleged that PACS’s turnaround was driven by illicitly accessing Medicare benefits for thousands of patients. On November 4, 2024, prominent investment research firm Hindenburg Research published a report titled: “PACS Group: How to Become A Billionaire In The Skilled Nursing Industry By Systematically Scamming Taxpayers.” After a 5-month investigation that included interviews with 18 former PACS employees, competitors, and an analysis of more than 900 PACS facility cost reports, Hindenburg alleged that “PACS abused a COVID-era waiver, inappropriately accessing skilled care Medicare benefits for thousands of patients across its national portfolio of facilities.” Hindenburg further estimated that “the scheme drove more than 100% of PACS’ operating and net income from 2020 – 2023, enabling PACS to IPO in early 2024 with the illusion of legitimate growth and profitability.” On November 6, 2024, PACS then announced that it was postponing its Q3 earnings and 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.” The news caused a significant decline in the price of PACS stock. On November 4, 2024, the price of the company’s stock fell 27.8%, from a closing price of $42.94 per share on November 1, 2024, to $31.01 per share on November 4, 2024. On November 6, 2024, the price of the company’s stock fell 38.8%, from a closing price of $29.54 per share on November 5, 2024, to $18.09 per share on November 6, 2024. Click here if you Suffered Losses: https://www.bfalaw.com/cases-investigations/pacs-group-inc . What Can You Do? If you invested in PACS you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: https://www.bfalaw.com/cases-investigations/pacs-group-inc Or contact: Ross Shikowitz ross@bfalaw.com 212-789-3619 Why Bleichmar Fonti & Auld LLP? Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd. For more information about BFA and its attorneys, please visit https://www.bfalaw.com . https://www.bfalaw.com/cases-investigations/pacs-group-inc Attorney advertising. Past results do not guarantee future outcomes.
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In 2024, there have been plenty of winners in the stock market. While tech stocks have gotten much of the attention from investors, other sectors have also performed well. One of the more overlooked ones is construction, which is benefiting from strong demand, infrastructure spending from the government, and hopes that Fed rate cuts will lower borrowing costs. For example, the Invesco Building & Construction ETF is up 22% year to date, but through Nov. 25, it was up 40%. That was before President-elect Trump announced his intention to slap 25% tariffs on Canada and Mexico, and to add a 10% tariff on goods coming from China. Even with that setback, a number of individual construction stocks have still delivered monster returns this year. Tutor Perini ( TPC 1.26% ) , for example, is up 171% year to date, as the chart below shows. TPC data by YCharts. The diversified construction company, whose projects include public works like bridges and jails as well as privately held real estate, has seen demand soar this year. In the third quarter, its backlog jumped 35% sequentially to $14 billion, topping a previous record of $11.6 billion set in 2019. This is a sign that the business is recovering from an earlier slowdown. Why Tutor Perini stock is on fire this year Part of the reason construction stocks like Tutor Perini have surged this year has to do with expectations. The construction sector is highly cyclical, and at the beginning of the year, there were still some concerns that the economy could slide into a recession. As a result, investors weren't particularly bullish on Tutor Perini at the start of 2024, as its business depends on multi-billion-dollar projects from governments and the private sector. However, the Fed has pulled off the soft landing, lowering rates without crashing the economy, and the unemployment rate remains low, while economic growth is steady. Through the first three quarters of 2024, Tutor Perini has grown revenue by 14% to $3.26 billion, though it still reported losses, primarily due to the resolution of legal disputes and other matters. Looking ahead, the company now expects a return to profitability in 2025 as it puts those disputes behind it. From there, it sees earnings growth in 2026 and beyond. Among the projects it recently won include a $1.66 billion mass-transit project in Hawaii, a $1.1 billion water conveyance tunnel in New York, a multi-billion-dollar jail project in New York, and a $1 billion-plus healthcare campus in California. Those have all sent the company's backlog soaring. It now stands at roughly 3.5 years' worth of revenue. While the company is unprofitable on a generally accepted accounting principles ( GAAP ) basis this year, it sees record operating cash flow of $425 million to $575 million for the year. Can Tutor Perini keep climbing in 2025? At a market capitalization of $1.3 billion, Tutor Perini still looks cheap on a price-to-sales ( P/S ) basis. It's trading at a P/S of 0.3, showing there's a lot of leverage if the company can deliver the profits it's promised. The stock jumped 10% on the Q3 earnings report, showing that investors were pleased with the surge in the backlog, but those bookings are now priced in. Investors now seem to have high expectations heading into 2025. The Wall Street consensus is calling for $1.92 in adjusted earnings per share, giving the stock a forward price-to-earnings (P/E) of 12.8. That's a good price for a cyclical stock like Tutor Perini, but there's a lot of uncertainty around it heading into 2025. For example, the stock fell 7% when the Fed trimmed its forecast for rate cuts next year from four to two, and the influence of the Trump administration is still unclear. Tariffs, for example, could raise costs for key materials, putting a dent in profits for the contracts the company has already signed. If the economy remains strong in 2025, the stock should continue to move higher with those legal disputes out of the way and a clear need for new infrastructure across much of the U.S. contributing to demand. Don't be surprised to see Tutor Perini's backlog continue to grow into 2025. That should help support further gains in the stock if the economy stays healthy.
