NEW YORK, July 26, 2017 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Axiom Holdings, Inc. ("Axiom Holdings") (OTCMKTS:AIOM) between October 14, 2016 and June 19, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information go to:
http://www.zlk.com/pslra-sba/axiom-holdings-inc?wire=3
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Axiom lacked control over the merger process sufficient to ensure that the Agreement with CJC would be completed; (ii) accordingly, the Agreement with CJC Holdings, Ltd. ("CJC") was never completed; (iii) the Company’s issuance of shares to the CJC Shareholders was thus improper; and (iv) as a result of the foregoing, Axiom’s public statements were materially false and misleading at all relevant times.
On June 19, 2017, Axiom 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 CJC Shareholders in connection with the merger.
If you suffered a loss in Axiom Holdings you have until August 21, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.