SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of AXT, Inc. Investors.

NEW YORK, May 6, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors in AXT, Inc. (“AXT” or the “Company”) (NASDAQ: AXTI). Such investors are advised to get in touch Danielle Peyton at (email protected) or 646-581-9980, extension 7980.

The investigation concerns whether AXT and certain of its officers and/or directors engaged in securities transactions Fraud or other unlawful business practices.

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At April 4, 2024J Capital Research (“J Capital”) published a report on AXT which, among other things, claimed that the US-listed company conducts almost all of its operations through a subsidiary in China and “would like to list this subsidiary Shanghai to obtain new financing,” but “the prospectus attracted unexpected scrutiny and revealed a wealth of undisclosed issues.” China.” Especially J Capital allegedly that it “revealed a flood of reasons why Chinese regulators may have blocked this IPO, including data falsification, tax evasion, improper storage of hazardous chemicals, suspicious related party transactions, intellectual property litigation and employee default.”

On this news, AXT’s share price fell $1.73 per share or 34.95% to close $3.22 per share 4. April2024.

Pomerantz LLP, with offices in new York, Chicago, Los Angeles, London, ParisAnd Tel Aviv, is considered one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the deceased Abraham L. PomerantzPomerantz, known as the dean of the class action bar, pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of securities victims Fraud, breaches of fiduciary duty and corporate misconduct. The company has recovered billions of dollars in damages on behalf of the class plaintiffs. See www.pomlaw.com.

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CONTACT:
Danielle Peyton
Pomerantz LLP
(email protected)
646-581-9980 ext 7980

SOURCE Pomerantz LLP