Lawsuit filed for Investors who lost money with shares of AXT, Inc. (NASDAQ: AXTI)

An investor, who purchased shares of AXT, Inc. (NASDAQ: AXTI), filed a lawsuit over alleged violations of Federal Securities Laws by AXT, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of AXT, Inc. (NASDAQ: AXTI) have certain options and for certain investors are short and strict deadlines running. Deadline: July 5, 2024. AXT, Inc. (NASDAQ: AXTI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Fremont, CA based AXT, Inc. designs, develops, manufactures, and distributes compound and single element semiconductor substrates. On April 4, 2024, J Capital Research published a report concerning AXT, Inc.. As per the report, "AXTI is listed in the U.S., but its business operations are almost all conducted through a subsidiary in China. AXTI wants to list that subsidiary in Shanghai to capture new financing. But the listing prospectus attracted unexpected scrutiny and unveiled a plethora of undisclosed issues in China." Further stating, "We have uncovered a deluge of reasons why Chinese regulators potentially blocked this IPO, including falsifying data, tax evasion, improper storage of hazardous chemicals, suspicious related-party transactions, IP litigation, and defaulting on litigation, and defaulting on wages to employees." Shares of AXT, Inc. (NASDAQ: AXTI) declined from $5.64 per share on March 21, 2024, to as low as $3.03 per share on April 05, 2024.

The plaintiff claims that between March 24, 2021 and April 3, 2024, the defendants made materially false and/or misleading statements and/or failed to disclose that AXT, Inc. overstated its property holdings, that the Company did not disclose that the attempted listing of an AXT, Inc. subsidiary in China had reportedly failed, that AXT, Inc. routinely engaged in environmental violations and unsafe business practices, that AXT's production declined in 2023, and that as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times.

Those who purchased shares of AXT, Inc. (NASDAQ: AXTI) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.