PACS Group Shares Tumble After CFO's Resignation

Dow Jones

Sep 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)

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