Maz v First Choice Healthcare

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.