LOS ANGELES, June 27, 2017 (GLOBE NEWSWIRE) -- Lundin Law PC, a shareholder rights firm, announces the filing of a class action lawsuit against Axiom Holdings, Inc. (“Axiom Holdings” or the “Company”) (Other OTC:AIOM) for possible violations of federal securities laws between October 14, 2016 and June 19, 2017 inclusive (the “Class Period”). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the August 21, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, throughout the Class Period, Axiom Holdings made false and misleading statements and/or failed to disclose that: the Company lacked control over the merger process sufficient to ensure that the share exchange agreement with CJC Holdings, Ltd. (“CJC”) would be completed; that the agreement with CJC was never completed; that Axiom Holdings’ issuance of shares to the CJC Shareholders was thus improper; and thus, the Company’s public statements were materially false and misleading at all relevant times.
On June 19, 2017, Axiom Holdings issued a press release revealing that it identified discrepancies related to prior news announcements in response to a subpoena from the Securities and Exchange Commission. The following day, the Company issued another 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. Upon release of this information, shares of Axiom Holdings fell in value materially, which caused investors harm according to the Complaint.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders’ rights.
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