Robbins Arroyo LLP: First Choice Healthcare Solutions, Inc. (FCHS) Sued for Misleading Shareholders
SAN DIEGO & MELBOURNE, Fla.--(BUSINESS WIRE)--Apr 3, 2019--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of First Choice Healthcare Solutions, Inc. (OTC: FCHS) shares filed a class action complaint against the company for alleged violations of the Securities Exchange Act of 1934 between April 1, 2014 and November 14, 2018. First Choice is a non-physician-owned, healthcare services company focused on the delivery of orthopaedic care and treatment.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/first-choice-healthcare-solutions/
First Choice Executives Accused of Stock Fraud
According to the complaint, First Choice failed to disclose that its Chairman and CEO, Christian Romandetti, and his co-conspirators were committing securities fraud with First Choice stock. Beginning around September 2013, First Choice executives implemented a large-scale promotional campaign to fraudulently inflate the market price and trading value of First Choice shares. In November 2018, the U.S. Department of Justice announced a criminal indictment and the U.S. Securities and Exchange Commission filed a civil action against Romandetti and his co-conspirators. On this news, First Choice’s stock plummeted almost 65% to close at $0.35 per share on November 15, 2018. The stock price has yet to recover.
First Choice Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leo Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190403005877/en/
CONTACT: Leo Kandinov
Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Arroyo LLP
Copyright Business Wire 2019.
PUB: 04/03/2019 05:44 PM/DISC: 04/03/2019 05:44 PM