PACS Group Announces Receipt of Notice of Late Filing from NYSE
PACS Group (NYSE: PACS) received a Filing Delinquency Notification from NYSE on November 20, 2024, indicating non-compliance with Section 802.01E of the NYSE Listed Company Manual due to delayed filing of its Q3 2024 Form 10-Q. The delay stems from an ongoing Audit Committee investigation of third-party allegations. The company has a six-month period from November 19, 2024, to file the Form 10-Q and regain compliance, which it expects to achieve within this timeframe.
Il Gruppo PACS (NYSE: PACS) ha ricevuto una Notifica di Inadempimento di Filing dalla NYSE il 20 novembre 2024, che indica la non conformit脿 con la Sezione 802.01E del Manuale delle Societ脿 Quotate della NYSE a causa del ritardo nella presentazione del suo modulo 10-Q del terzo trimestre del 2024. Il ritardo deriva da un'indagine della Commissione di Controllo su accuse di terzi. L'azienda ha un periodo di sei mesi a partire dal 19 novembre 2024 per presentare il modulo 10-Q e ripristinare la conformit脿, obiettivo che si aspetta di raggiungere entro questo termine.
Grupo PACS (NYSE: PACS) recibi贸 una Notificaci贸n de Incumplimiento de Presentaci贸n de la NYSE el 20 de noviembre de 2024, indicando el incumplimiento de la Secci贸n 802.01E del Manual de Empresas Listadas de la NYSE debido al retraso en la presentaci贸n de su formulario 10-Q del tercer trimestre de 2024. El retraso se debe a una investigaci贸n en curso del Comit茅 de Auditor铆a sobre acusaciones de terceros. La empresa tiene un per铆odo de seis meses a partir del 19 de noviembre de 2024 para presentar el formulario 10-Q y volver a cumplir con las normativas, lo cual espera lograr dentro de este plazo.
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Groupe PACS (NYSE: PACS) a re莽u une Notification de Non-Conformit茅 de la NYSE le 20 novembre 2024, indiquant un manquement 脿 la Section 802.01E du Manuel des Soci茅t茅s Cot茅es de la NYSE en raison du retard dans la pr茅sentation de son formulaire 10-Q du troisi猫me trimestre 2024. Ce retard provient d'une enqu锚te en cours du Comit茅 d'Audit concernant des accusations de tiers. L'entreprise dispose d'un d茅lai de six mois 脿 partir du 19 novembre 2024 pour soumettre le formulaire 10-Q et retrouver sa conformit茅, ce qu'elle s'attend 脿 r茅aliser dans ce d茅lai.
PACS Gruppe (NYSE: PACS) erhielt am 20. November 2024 eine Mitteilung 眉ber die Versp盲tung der Einreichung von der NYSE, da das Unternehmen aufgrund versp盲teter Einreichung seines 10-Q-Formulars f眉r das 3. Quartal 2024 nicht den Anforderungen der Section 802.01E des NYSE Listed Company Manual entspricht. Die Verz枚gerung resultiert aus einer laufenden Untersuchung des Pr眉fungsausschusses zu Drittvorw眉rfen. Das Unternehmen hat einen Zeitraum von sechs Monaten ab dem 19. November 2024, um das 10-Q-Formular einzureichen und die Konformit盲t wiederzuerlangen, was es innerhalb dieses Zeitrahmens zu erreichen hofft.
- Company expects to file Form 10-Q within the given six-month compliance period
- Delayed filing of Q3 2024 Form 10-Q
- Non-compliance with NYSE listing requirements
- Ongoing Audit Committee investigation of third-party allegations
- Risk of potential NYSE delisting if compliance is not achieved within six months
Insights
The NYSE notice of non-compliance due to delayed 10-Q filing represents a significant red flag for investors. The ongoing Audit Committee investigation of third-party allegations adds another layer of concern, as such investigations often indicate potential material issues with financial reporting or internal controls.
While the 6-month compliance window provides breathing room, historical patterns show that companies under audit committee investigations often face additional challenges, including: potential restatements, increased regulatory scrutiny, class action lawsuits and higher compliance costs. The vague nature of "third-party allegations" warrants particular attention, as it could range from whistleblower claims to accounting irregularities.
About PACS Group
PACS Group, Inc. is a holding company investing in post-acute healthcare facilities, professionals, and ancillary services. Founded in 2013, PACS Group is one of the largest post-acute platforms in
Forward-Looking Statements
This press release contains, and other communications of the Company may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as 鈥渂elieve,鈥� 鈥渆xpect,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥渆stimate,鈥� 鈥減roject,鈥� 鈥渙utlook,鈥� 鈥渇orecast,鈥� 鈥渢arget,鈥� 鈥渢rend,鈥� 鈥減lan,鈥� 鈥済oal,鈥� or other words of comparable meaning or future-tense or conditional verbs such as 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渟hould,鈥� 鈥渨ould,鈥� or 鈥渃ould.鈥� Statements concerning the Company鈥檚 future are forward-looking statements, and are based on management鈥檚 current expectations, assumptions and beliefs about the Company鈥檚 business, financial performance, operating results, the industry in which the Company operates and possible future events. These statements include, but are not limited to, statements regarding the Company鈥檚 expectations regarding the timing of the ongoing investigation and the timing of and its ability to make the Company鈥檚 Form 10-Q filing. Forward-looking statements convey the Company鈥檚 expectations, intentions, or forecasts about future events, circumstances, results, or aspirations. Forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions, which may change over time and many of which are beyond the Company鈥檚 control, and that could cause the Company鈥檚 actual results to materially and adversely differ from those expressed in any forward-looking statement, including the outcome of any ongoing government or internal investigations, risks associated with litigation, and the other risks described in the Company鈥檚 Quarterly Report on Form 10-Q for the three months ended June 30, 2024 and other filings with the Securities and Exchange Commission.
These documents are available in the Investor Relations section of the Company鈥檚 website at (information on the website is not incorporated by reference into this press release and should not be considered part of this document).
You should not place undue reliance on forward-looking statements. The information in this press release is provided as of today鈥檚 date only, and, except as required by federal securities law, we do not undertake to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or for any other reason after today.
View source version on businesswire.com:
Investors: IR@pacs.com
Media: Brooks Stevenson
VP Corporate Communication
262 N. University Avenue
T: 385-988-3596
brooks.stevenson@pacs.com
Source: PACS Group, Inc.
FAQ
Why did PACS Group (NYSE: PACS) receive a notice from NYSE on November 20, 2024?
How long does PACS Group have to regain compliance with NYSE filing requirements?
What caused PACS Group's delay in filing its Q3 2024 Form 10-Q?
