IRVINE, Calif., June 28, 2017 /PRNewswire/ -- Khang & Khang LLP (the "Firm") announces a securities class action lawsuit against Axiom Holdings, Inc. ("Axiom" or the "Company") (Other OTC: AIOM). Investors who purchased or otherwise acquired shares between October 14, 2016 and June 19, 2017, inclusive (the "Class Period"), are encouraged to contact the Firm in advance of the August 21, 2017 lead plaintiff motion deadline.
If you purchased Axiom shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at firstname.lastname@example.org.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
According to the Complaint, throughout the Class Period, Axiom made false and misleading statements and/or failed to disclose that: the Company lacked control over the merger process sufficient to ensure that its 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 that as a result of the above, the Company's public statements were materially false and misleading at all relevant times. On June 19, 2017, Axiom disclosed that it identified discrepancies related to prior news announcements in response to a subpoena from the U.S. 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. When this news was announced, shares of Axiom lowered in value materially, which caused investors harm according to the Complaint.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone at (949) 419-3834, or by e-mail at email@example.com.
This press release may constitute Attorney Advertising in some jurisdictions.
Joon M. Khang, Esq.
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SOURCE Khang & Khang LLP