Robbins LLP informs investors about this

SAN DIEGO, May 8, 2024 (GLOBE NEWSWIRE) — Robbins LLP informs investors that a shareholder has filed a class action lawsuit on behalf of all individuals and entities between April 24, 2021 and April 3, 2024. AXT, Inc. describes itself itself as a “global materials science company that develops and produces high-performance interconnect and single-element semiconductor substrates, also known as wafers.”

For more information, submit a form, email attorney Aaron Dumas, Jr., or call us at (800) 350-6003.

The accusations: Robbins LLP is investigating allegations that AXT, Inc. (AXTI) misled investors about its operations

According to the complaint, defendants failed to disclose the following during the class action: (1) AXT, Inc. overstated its real estate holdings; (2) the Company did not disclose that the attempted initial public offering of a subsidiary of AXT, Inc. in China reportedly failed; (3) AXT, Inc. regularly engages in environmental violations and unsafe business practices; and (4) AXT, Inc.’s production declined in 2023.

The plaintiff alleges that on April 4, 2024, J Capital Research issued a report highlighting problems with AXT, Inc. in China, where the company has almost all of its operations. Specifically, the report states that, among other things, “AXTI sales have collapsed, production has collapsed and environmental problems have forced the company to move hazardous chemical operations to a rural county 300 miles from the factory.” As of this report, AXT, Inc.’s stock price fell $1.73 per share, or 34.94%, to close at $3.22 per share on April 4, 2024.

What now: You may be eligible to participate in the AXT, Inc. class action lawsuit. Shareholders who wish to serve as lead plaintiff for the class must file motions with the Court by July 5, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to be a party to the case to be eligible for compensation. If you choose to take no action, you may remain an absent student. For further information, click here.

All representations are made on a contingency fee basis. Shareholders pay no fees or expenses.

About Robbins LLP: Some law firms issuing notices on this matter do not actually litigate securities class actions. Robbins LLP does. Robbins LLP’s attorneys and staff are recognized leaders in shareholder rights litigation and have been committed since 2002 to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their misconduct pull. Since our inception, we have received over $1 billion for shareholders.

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Contact:
Aaron Dumas, Jr.
Robbins LLP
5060 Shoreham Pl., Ste. 300
San Diego, CA 92122
[email protected]
(800) 350-6003
www.robbinsllp.com

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