Bragar Eagel Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Axiom Holdings, Inc. (AIOM) and Encourages Investors to Contact the Firm
Jun 23, 2017
OTC Disclosure News Service
Bragar Eagel Squire, P.C. announces that a class action lawsuit has
been filed in the U.S. District Court for the Southern District of New
York on behalf of all persons or entities who purchased or otherwise
acquired Axiom Holdings, Inc. (OTC:AIOM) securities between October 14,
2016 and June 19, 2017 (the “Class Period”). Investors have until August
21, 2017 to apply to the Court to be appointed as lead plaintiff in the
On June 19, 2017, Axiom Holdings announced the existence of issues
relating to the propriety of Axiom’s December 2016 share exchange with
CJC Holdings, Ltd., disclosing that the purported CEO of CJC Holdings,
who signed the share exchange agreement in December 2016, had actually
resigned from that role the prior month.
Following this news, shares of Axiom fell $0.44 per share, or nearly
38%, over a two-day period to close at $0.72 on June 20, 2017. On June
20, 2017, the U.S. Securities and Exchange Commission announced a
temporary suspension of trading of Axiom securities beginning on June
21, 2017 until July 5, 2017.
The Complaint alleges that throughout the Class Period, the Company 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 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.
If you purchased or otherwise acquired Axiom securities during the Class
Period and suffered a loss or continue to hold shares purchased prior to
the Class Period, have information, would like to learn more about these
claims, or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact
Brandon Walker or Melissa Fortunato by email at email@example.com,
or telephone at (212) 355-4648, or by filling
out this contact form. There is no cost or obligation to you.
Bragar Eagel Squire, P.C. is a New York-based law firm concentrating
in commercial and securities litigation. For additional information
concerning the Axiom lawsuit, please go to http://www.bespc.com/axiom.
For additional information about Bragar Eagel Squire, P.C., please go
Copyright © 2017 Businesswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.