Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in First Choice Healthcare Solutions (OTC:FCHS) in connection to alleged violations of securities laws by FCHS. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in First Choice Healthcare Solutions between April 1, 2014, and November 14, 2018.
The class action complaint specifically alleges that during the period in question, FCHS provided false and/or misleading material information and/or failed to disclose adverse material information to the public, chiefly: that the company hired a firm called Elite Stock Research for the purposes of promoting the company’s securities to investors, with the aim of inflating its share price; that the company’s former Chief Executive Officer, President, and Board Chairman, Christian Romandetti Sr., engaged in a scheme designed to inflate FCHS using a paid promotional campaign, and Mr. Romandetti profited from this unlawful campaign; that the scheme’s participants were in violation of FCHS’s compliance policies and procedures; that the unlawful promotional campaign was a leading driver of changes in the company’s stock price, which inflated and allowed participates in the “dump” their stock and make a profit. The complaint alleges that when true facts emerged about the scheme, investors suffered losses.
According to the company’s website, First Choice Healthcare Solutions is a healthcare company building “a network of localized, integrated care platforms comprised of non-physician-owned medical centers of excellence.” The description goes on to state that the company is focused on the treatment of patients in specialities including orthopedics, spine surgery, neurology, interventional pain management, and “related diagnostic and ancillary services.” It serves markets in the southeastern United States and states that it administers more than 100,000 annual patient visits. The company si headquartered in Melbourne, Florida and trades over-the-counter under the symbol FCHS.
A class action lawsuit has already been filed in connection with First Choice Healthcare Solutions. If you wish to serve as lead plaintiff in the FCHS lawsuit, you must move the Court no later than May 28, 2019. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.