The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Axiom Holdings, Inc. (OTCMKTS : AIOM) securities between October 14, 2016 and June 19, 2017.
According to the complaint, throughout the Class Period defendants made 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, Inc. 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.
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