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Axiom Holdings, Inc. (AIOM)

Other OTC:AIOM

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Axiom Holdings, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Axiom Holdings, Inc. (“Axiom” or the “Company”) (OTCQB:AIOM) of the August 21, 2017 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Axiom stock or options between October 14, 2016 and June 19, 2017 and would like to discuss your legal rights, please fill out the form below.  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 rgonnello@faruqilaw.com. 

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Axiom securities between October 14, 2016 and June 19, 2017 (the “Class Period”).  The case, Desvarieux v. Axiom Holdings, Inc. et al, Docket No. 1:17-cv-04756 was filed on June 22, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws. The complaint alleges that defendants during the Class Period made false and misleading statements and/or failed to disclose that Axiom lacked control over the merger process sufficient to ensure the validity of its December 2016 Share Exchange Agreement (the “SEA”) with CJC Holdings Ltd (“CJC”).

Specifically, on June 19, 2017, Axiom issued a press release disclosing that it had identified discrepancies related to prior news announcements in response to a subpoena from the Securities and Exchange Commission regarding the SEA.  The following day, Axiom issued a second 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.  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.

After the announcement, Axiom’s share price fell from $0.90 per share on June 19, 2017 to a closing price of $0.72 on June 20, 2017—a $0.18 or a 20% drop.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Axiom Holdings, Inc. (AIOM)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 06/20/2017

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