SAN FRANCISCO, July 25, 2017 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Axiom Holdings, Inc. (OTCQB:AIOM) of the August 21, 2017 Lead Plaintiff deadline in the pending securities class action.
If you purchased or otherwise acquired securities of AIOM between October 14, 2016 and June 19, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/AIOM
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing AIOM@hbsslaw.com.
On June 19, 2017, MarketWatch published a press release entitled “Axiom Holdings, Inc. Responds to SEC Subpoena and Updated Information.” According to the release, Curt Riley, Axiom’s CEO, reviewed numerous documents on CJC (Hong Kong), with whom the Company purports to have merged with, in response to an SEC subpoena. The release reported that the CEO of CJC signed the share exchange agreement between the companies after she resigned from CJC.
On June 20, 2017, TheStreet published a press release entitled “Axiom Board & CEO Is In The Process Of Rescinding Shares Related To CJC Reverse Merger, And Is Seeking A Court Injunction To Restrict Such Shares.” According to the release, Riley stated: “Regardless of many documents provided to our company, it now appears the merger was never completed, therefore, I, as CEO and the sole Director, am now taking steps to rescind the shares that were issued to the CJC shareholders including major shareholders Hu Deng Yang, Yang Chau, Jeffrey Martin, and Rex Cheung and will be investigating if such shares were used or sold without completing such transaction.”
These revelations drove the price of Axiom shares down almost 38% over two trading days to close at $0.72 on June 20, 2017.
“We’re watching facts as they unfold, particularly those related to the validity of the business combination with CJC,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Axiom should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email AIOM@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.