[back]

Axiom Holdings, Inc.

Period: Oct 14, 2016 to Jun 19, 2017

Lead Plaintiff Deadline: Aug 22, 2017

Summary of Case:

A securities class action has been filed against Axiom Holdings, Inc. (OTCQB:AIOM) on behalf of purchasers of the securities of Axiom from October 14, 2016 through June 19, 2017.  This case has been filed in the USDC - NY Southern.

The complaint alleges that defendants during the Class Period made false and misleading statements and/or failed to disclose that: (1) Axiom lacked control over the merger process sufficient to ensure that the Agreement with CJC would be completed; (2) accordingly, the Agreement with CJC was never completed; (3) Axiom’s issuance of shares to the CJC Shareholders was thus improper; and (4) as a result, Axiom’s public statements were materially false and misleading at all relevant times.

On June 19, 2017, Axiom issued a press release disclosing that it had identified discrepancies related to prior news announcements in response to a subpoena from the Securities and Exchange Commission. The following day, Axiom issued a second press release, advising investors that “it now appears the merger was never completed” and advising investors that it would rescind the shares that were issued to the CJC Shareholders in connection with the merger. On this news, shares of Axiom fell $0.44 per share or over 37% over two trading days to close at $0.72 per share on June 20, 2017, damaging investors.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 21, 2017.

If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.

Join This Action

[back]