The
information contained on this website is only a summary of the information
presented in more detail in the Notice of Proposed Class Action Settlement (the
“Notice”), which you can access by
clicking here. Since this
website is just a summary, you should review the Notice for additional details.
CLASS NOTICE: On February 7, 2023, the Claims Administrator conducted the initial distribution of settlement funds to eligible claimants, as approved by the order of the Court.
The Complaint filed on March 29, 2019, alleges that
Defendants First Choice Healthcare Solutions, Inc. (“FCHS”) and Christian Romandetti, Sr., who was FCHS’s Chairman of the
Board of Directors (“Board”), President, and Chief Executive Officer (“CEO”)
(collectively, “Defendants”), violated Section 10(b) of the Securities Exchange
Act of 1934 and Rule 10b-5 promulgated thereunder, and it asserts a claim for
liability against Romandetti pursuant to Section 20(a) of the Securities
Exchange Act as a control person of FCHS.
Lead Plaintiff MAZ Partners LP (“Lead Plaintiff”) contends that Romandetti,
on behalf of FCHS, engaged in and oversaw an undisclosed stock manipulation
scheme that artificially inflated the price of FCHS common stock. The Complaint further alleges that Defendants
made numerous public statements that were materially misleading by failing to
disclose the stock manipulation scheme.
The Complaint alleges that on November 5, 2018, when investors learned
of the scheme, FCHS’s share price fell $0.66 per share or nearly 65%, and
shareholders were damaged. The Action
seeks money damages against Defendants.
Defendants deny all of Lead Plaintiff’s allegations, deny that they made
any false or misleading statements or otherwise did anything wrong, and deny
that anything they did caused damages to Lead Plaintiff or the Settlement Class.
Excluded
from the Class by definition are certain persons and entities (see paragraph 6 of the Notice) or those
who request exclusion pursuant to the instructions set forth in the Notice (see paragraphs 14 to 17 of the Notice).
Please read the Notice to fully
understand your rights and options.
Copies of the Notice, Proof of Claim and Release Form, and relevant Court Documents can be found in the menu on the
left of this page.
Payments to eligible claimants will be made only if the Court
approves the Settlement and a Plan of Allocation, only after any appeals are
resolved, and after the completion of all claims processing. Please be patient,
as this process will take some time to complete.
YOUR LEGAL RIGHTS AND OPTIONS IN
THIS SETTLEMENT
|
SUBMIT A PROOF OF CLAIM AND RELEASE
FORM, POSTMARKED OR RECEIVED NO LATER THAN JUNE 25, 2021
|
The only way to get a
payment if you have a Recognized Loss.
|
EXCLUDE YOURSELF, POSTMARKED OR RECEIVED NO LATER
THAN JUNE 28, 2021
|
Get no payment. This is the only option that allows you to
bring your own lawsuit against the Released Parties about the Settled Claims
raised in this Action.
|
OBJECT TO THE SETTLEMENT OR ANY RELATED ASPECT,
POSTMARKED OR RECEIVED NO LATER THAN JULY 12, 2021
|
Write to the Court
about why you do not like the Settlement.
You may, but are not required to, appear at the Final Approval
Hearing.
|
GO TO A HEARING
|
You may ask to speak in
Court about the fairness of the Settlement.
|
DO NOTHING
|
Get no payment. Give up all legal rights relating to the
claims at issue in the Action.
|
Please read the Notice carefully. If you have questions, you may call the First
Choice Healthcare Securities Litigation Help Line at 877- 933-2895 or email info@FirstChoiceSecuritiesLitigation.com.

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