Allegations Against AXT, Inc. (NASDAQ: AXTI)
Recently, a class action lawsuit was filed against the company. According to the complaint, during the class period, defendants failed to disclose that: (1) AXT, Inc. overstated its property holdings; (2) the Company did not disclose that the attempted listing of an AXT, Inc. subsidiary in China had reportedly failed; (3) AXT, Inc. routinely engaged in environmental violations and unsafe business practices; and (4) AXT, Inc.’s production declined in 2023.
Johnson Fistel LLP’s investigation seeks to determine whether Intel’s senior officers or members of its board of directors harmed the company by breaching their fiduciary duties or otherwise violating securities laws in connection with the foregoing alleged conduct.
What are derivative lawsuits and what can I do as a current long-term shareholder of AXT? Click Here
If you are interested in pursuing this matter, please review and sign the engagement letter below or contact James Baker at jimb@johnsonfistel.com or (619) 814-4471.