Business
INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of First Choice Healthcare Solutions, Inc. Investors (FCHS)
INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of First Choice Healthcare Solutions, Inc. Investors (FCHS).
About this update from First Choice Healthcare Solutions, Inc.
[{"type":"text","content":"\n \n Law Offices of Howard G. Smith announces that a class action lawsuit has \n been filed on behalf of investors who purchased First Choice Healthcare \n Solutions, Inc. (“First Choice” or the “Company”) (OTC: FCHS) \n securities between April 1, 2014 and November 14, 2018, inclusive \n (the “Class Period”). First Choice investors have until May 28, \n 2019 to file a lead plaintiff motion.\n \n \n Investors suffering losses on their First Choice investments are \n encouraged to contact the Law Offices of Howard G. Smith to discuss \n their legal rights in this class action at 888-638-4847 or by email to [email protected].\n \n \n On November 14, 2018, both a criminal indictment and civil action were \n filed by the U.S. Department of Justice and Securities and Exchange \n Commission respectively against then-Chief Executive Officer, President, \n and Board Chairman Christian Romandetti, Sr., along with other alleged \n co-conspirators. Romandetti was charged regarding his connections with \n the arrangement of a multi-million dollar pump-and-dump scheme in which \n the price and volume of First Choice shares was falsely controlled \n through artificial generation of trading volume and price movements, as \n well as materially false representations and omissions in communications \n with investors.\n \n \n On this news, shares of First Choice fell $0.66 per share, or over 65%, \n to close at $0.35 on November 15, 2018, thereby injuring investors.\n \n \n The complaint filed in this class action alleges that throughout the \n Class Period, Defendants made materially false and misleading statements \n regarding the Company’s business, operational and compliance policies. \n Specifically, Defendants made false and/or misleading statements and/or \n failed to disclose that: (1) defendants retained Elite Stock Research, \n Inc. to falsely promote the Company to materially inflate the price of \n First Choice stock; (2) the Company’s CEO participated and personally \n profited from a scheme to materially inflate the price of First Choice \n securities through an unlawful, paid promotional campaign; (3) \n defendants were in violation of First Choice’s internal compliance \n policies by participating in the pump and dump scheme; and (4) a primary \n cause of fluc...