A lawsuit was filed on behalf of investors in First Choice Healthcare Solutions, Inc. (OTC: FCHS) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 04/18/2019 -- An investor, who purchased shares of First Choice Healthcare Solutions, Inc. (OTC: FCHS), filed a lawsuit over alleged Securities Laws violations by First Choice Healthcare Solutions, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of First Choice Healthcare Solutions, Inc. (OTC: FCHS) have certain options and for certain investors are short and strict deadlines running. Deadline: May 28, 2019. OTC: FCHS investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Melbourne, FL based First Choice Healthcare Solutions, Inc., through its subsidiaries, provides healthcare services in the United States. On November 14, 2018, the United States Department of Justice ("DOJ") filed a criminal indictment, and on November 15, 2018, the Securities and Exchange Commission ("SEC") filed a civil action, against First Choice Healthcare Solutions, Inc's then-Chief Executive Officer, President, and Board Chairman Christian Romandetti, Sr. and certain alleged co-conspirators, charging them with securities fraud in connection with the orchestration of a multi-million dollar pump-and-dump scheme. The DOJ indictment and SEC complaint allege that Romandetti and his co-conspirators, through various manipulative practices, defrauded investors in First Choice securities "by artificially controlling the price and volume of traded shares in [First Choice] through, inter alia: (a) artificially generating price movements and trading volume in the shares; and (b) material misrepresentations and omissions in their communications with victim investors about the stock of [First Choice] . . . ." Shares of First Choice Healthcare Solutions, Inc. (OTC: FCHS) declined from $1.45 per share in February 2018 to as low as $0.22 per share in late 2018.
The plaintiff claims that between April 1, 2014 and November 14, 2018, the defendants made false and/or misleading statements and/or failed to disclose that defendants retained Elite Stock Research, Inc. to falsely promote First Choice securities to investors in order to materially inflate the price of First Choice stock, that Christian Romandetti, Sr., First Choice's former CEO, President, and Chairman of the Board of Directors, participated in a scheme to materially inflate the price of First Choice securities through an unlawful, paid promotional campaign, in which Romandetti personally profited, that defendants were in violation of First Choice's internal compliance policies including its Compliance Program, Code of Ethics, and Disclosure Policy, by participating in the pump and dump scheme, and that a primary cause of fluctuations in First Choice's stock price was the unlawful campaign, in which Romandetti directly participated, that caused the price of First Choice stock to be inflated while at the same time allowed others to dump their First Choice stock for profit. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of First Choice Healthcare Solutions, Inc. (OTC: FCHS) have certain options and should contact the Shareholders Foundation.
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