PACS Group Shares Tumble After CFO's Resignation

Dow Jones

09/09

By Connor Hart

Shares of PACS Group have lost more than a quarter of their value since the company's finance chief resigned after an investigation found he violated the company's code of conduct.

The stock sank 26% to $8.38 in morning trading Tuesday, extending its 35% decline so far this year.

The holding company, which invests in post-acute health-care facilities, said late Monday that its board learned of allegations that Chief Financial Officer Derick Apt had accepted a series of "high-value items" from people associated with a group it does business with.

Apt's receipt of the items violated company policies, including its code of conduct, according to a Securities and Exchange filing. The board requested Apt's resignation, which he offered.

PACS Group said it is searching for a permanent CFO, with co-founder Mark Hancock set to succeed Apt on an interim basis. Hancock served as the company's finance chief for more than a decade until his appointment as executive vice chairman last year.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

September 09, 2025 09:54 ET (13:54 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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The board requested Apt's resignation, which he offered. \n</p>\n<p>\n  PACS Group said it is searching for a permanent CFO, with co-founder Mark Hancock set to succeed Apt on an interim basis. Hancock served as the company's finance chief for more than a decade until his appointment as executive vice chairman last year. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 09, 2025 09:54 ET (13:54 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PACS","symbol_name":"PACS Group","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2566613350","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2566613350","pubTimestamp":1757426040,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of PACS Group have lost more than a quarter of their value since the company's finance chief resigned after an investigation found he violated the company's code of conduct.The stock sank 26% to $8.38 in morning trading Tuesday, extending its 35% decline so far this year.The holding company, which invests in post-acute health-care facilities, said late Monday that its board learned of allegations that Chief Financial Officer Derick Apt had accepted a series of \"high-value items\" from people associated with a group it does business with.Apt's receipt of the items violated company policies, including its code of conduct, according to a Securities and Exchange filing. The board requested Apt's resignation, which he offered.PACS Group said it is searching for a permanent CFO, with co-founder Mark Hancock set to succeed Apt on an interim basis. Hancock served as the company's finance chief for more than a decade until his appointment as executive vice chairman last year.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"PACS":"PACS Group","BK4185":"保健护理机构"},"translate_title":"首席财务官辞职后PACS集团股价暴跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PACS":1},"content_text":"By Connor Hart \n\n\n \n\n\n  Shares of PACS Group have lost more than a quarter of their value since the company's finance chief resigned after an investigation found he violated the company's code of conduct. \n\n\n  The stock sank 26% to $8.38 in morning trading Tuesday, extending its 35% decline so far this year. \n\n\n  The holding company, which invests in post-acute health-care facilities, said late Monday that its board learned of allegations that Chief Financial Officer Derick Apt had accepted a series of \"high-value items\" from people associated with a group it does business with. \n\n\n  Apt's receipt of the items violated company policies, including its code of conduct, according to a Securities and Exchange filing. The board requested Apt's resignation, which he offered. \n\n\n  PACS Group said it is searching for a permanent CFO, with co-founder Mark Hancock set to succeed Apt on an interim basis. Hancock served as the company's finance chief for more than a decade until his appointment as executive vice chairman last year. \n\n\n \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 09, 2025 09:54 ET (13:54 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}