NEW YORK, June 20, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Axiom Holdings, Inc. ("Axiom" or the "Company") (Other OTC: AIOM).
The investigation focuses on whether the Company and its executives violated federal securities laws. On June 19, 2017, in response to a Securities and Exchange Commission subpoena, the Company disclosed that it had discovered inconsistencies in its prior announcements regarding the validity of its Share Exchange Agreement (the "SEA") with CJC Holdings Ltd. ("CJC").
Then, on June 20, 2017, Axiom announced that it will be rescinding shares related to CJC reverse merger as it has started an internal investigation into the December 2016 transaction. The Company revealed that CJC's Chief Executive Officer ("CEO") Nankamalu, who signed the SEA on behalf of CJC, had in fact already resigned as CEO a month prior to the signing and the merger was not completed. Axiom has claimed that it will seek a court injunction to restrain such shares from being transferred until the investigation is completed.
On this news, Axiom's share price declined during intraday trading, causing harm to investors.
If you invested in Axiom stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/AIOM. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
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