According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- AXT, Inc. overstated its property holdings;
- AXT, Inc. did not disclose that the attempted listing of an AXT, Inc. subsidiary in China had reportedly failed;
- AXT, Inc. routinely engaged in environmental violations and unsafe business practices;
- AXT, Inc.’s production declined in 2023; and
- 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.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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