NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential breaches of fiduciary duties by the management of First Choice Healthcare Solutions, Inc. (OTC: FCHS) resulting from allegations that First Choice may have issued materially misleading business information to the investing public.
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 now-former First Choice CEO, President, and Chairman of the Board of Directors Christian Romandetti and his co-conspirators.
According to the complaint in a class action lawsuit filed against First Choice and Romandetti, beginning in 2014, First Choice issued a series of material misstatements and omissions to investors regarding, among other things: (1) the defendants retained Elite Stock Research, Inc. to falsely promote the Company to materially inflate the price of First Choice stock; (2) Romandetti, participated in a scheme to materially inflate the price of First Choice securities through an unlawful, paid promotional campaign, in which Romandetti personally profited; (3) the defendants were in violation of First Choice’s internal compliance policies by participating in the pump and dump scheme; and (4) First Choice lacked effective internal control over financial reporting.
The investigation concerns whether First Choice’s board of directors breached its fiduciary duties to shareholders, grossly mismanaged First Choice, and/or committed abuses of control as a result of the foregoing.
If you currently own shares of First Choice, please visit the firm’s website at http://www.rosenlegal.com/cases-register-1737.html. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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