BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of AXT, Inc. (“AXT” or the “Company”) (NASDAQ: AXTI) investors concerning the Company’s possible violations of federal securities laws.
On April 4, 2024, J Capital Research published a report alleging, among other things, that, while AXT announced that it would be listing its primary subsidiary in Shanghai, the Company’s IPO was blocked by Chinese regulators in March 2023, potentially due to “falsifying data, tax evasion, improper storage of hazardous chemicals, suspicious related-party transactions, IP litigation, and defaulting on wages to employees.”
On this news, AXT’s stock price fell $1.73, or 34.9%, to close at $3.22 per share on April 4, 2024, thereby injuring investors.
If you purchased AXT securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
[email protected]
www.howardsmithlaw.com
