LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 Investing In First Choice Healthcare Solutions, Inc. To Contact The Firm

On November 14, 2018, the DOJ filed its criminal indictment against Romandetti and his co-conspirators. On November 15, 2018, the DOJ issued a press release announcing the indictment and that it had charged Romandetti "and his associates Frank Sarro, Jeffrey Miller, and Mark Burnett with conducting a pump and dump scheme in coordination with Elite Stock Research (ESR), a boiler room, to defraud investors in FCHS.... The charges include conspiracies to commit securities fraud, wire fraud and money laundering, and substantive securities fraud."

That same day, the SEC filed a complaint and issued a press release announcing its charges "for defrauding elderly and unsophisticated investors." The SEC alleged that Romandetti, Elite Stock Research, Mark Burnett, Jeffrey Miller, Anthony Vassallo and Frank Sarro, manipulated First Choice's "shares generating more than $3.3 million of illegal profits and more than $560,000 in kickbacks for Romandetti."

On this news, First Choice's share price fell from $1.01 per share on November 14, 2018 to a closing price of $0.35 on November 15, 2018: a $0.66 or a 65.35% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. 

Faruqi & Faruqi, LLP also encourages anyone with information regarding First Choice's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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SOURCE Faruqi & Faruqi, LLP