NASDAQ: AXTI

AXT, Inc.

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of AXT, Inc. (NASDAQ: AXTI) resulting from allegations that AXT may have issued materially misleading business information to the investing public.

If you purchased AXT securities and would like to join the prospective action, please click “Join This Class Action.”

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If you purchased AXT securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

On April 4, 2024, J Capital Research released a report about AXT, Inc. (the “Report”). The Report stated in order to capture new financing, AXT had tried to conduct an Initial Public Offering (“IPO”) for one of its subsidiaries in China. However, undisclosed to American investors, the Report stated the “IPO has apparently been blocked by Chinese regulators.” J Capital Research then announced that it had “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 wages to employees.”

On this news, AXT’s stock fell $1.73 per share, or 35%, to close at $3.22 per share on April 4, 2024. The next day, AXT’s stock fell $0.11, or 3.4%, to close at $3.11 per share on April 5, 2024.

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Company Name: AXT, Inc.
Stock Symbol: AXTI
Class Period: N/A
Court: N/A
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