Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against First Choice Healthcare Solutions, Inc.
LOS ANGELES, May 16, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming May 28, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of First Choice Healthcare Solutions, Inc. (“First Choice” or the “Company”) (OTC: FCHS ) investors who: (a) acquired securities between April 1, 2014 and November 14, 2018, inclusive (the “Class Period”). First Choice investors have until May 28, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com.
On November 14, 2018, both a criminal indictment and civil action were filed by the U.S. Department of Justice and Securities and Exchange Commission respectively against then-Chief Executive Officer, President, and Board Chairman Christian Romandetti, Sr., along with other alleged co-conspirators. Romandetti was charged regarding his connections with the arrangement of a multi-million dollar pump-and-dump scheme in which the price and volume of First Choice shares was falsely controlled through artificial generation of trading volume and price movements, as well as materially false representations and omissions in communications with investors.
On this news, shares of First Choice fell $0.66 per share, or over 65%, to close at $0.35 on November 15, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) defendants retained Elite Stock Research, Inc. to falsely promote the Company to materially inflate the price of First Choice stock; (2) the Company’s CEO participated and personally profited from a scheme to materially inflate the price of First Choice securities through an unlawful, paid promotional campaign; (3) defendants were in violation of First Choice’s internal compliance policies by participating in the pump and dump scheme; and (4) 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.
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If you purchased or otherwise acquired First Choice securities during the Class Period you may move the Court no later than May 28, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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