SHAREHOLDER ALERT: The Pomerantz Law Firm announces the filing of a class action lawsuit against AXT, Inc.

NEW YORK, June 15, 2024 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against AXT, Inc. (“AXT” or the “Company”) (NASDAQ: AXTI). Investors are urged to contact Danielle Peyton at (email protected) or 646-581-9980 (or 888.4-POMLAW), toll-free, extension 7980. For inquiries by email, you will be asked to provide your mailing address, telephone number and the number of shares purchased.

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

You have until July 5, 2024to ask the Court to appoint you as lead plaintiff for the class if you are a shareholder who purchased or otherwise acquired AXT securities during the Class Period. A copy of the complaint is available atT www.pomerantzlaw.com.

(Click here for information on joining the class action lawsuit.)

At 4 April 2024J Capital Research (“J Capital”) published a report on AXT, alleging, among other things, that the US-listed company conducts almost all of its business through a subsidiary in China and “wants to establish this subsidiary in Shanghai to obtain new financing,” but “the IPO prospectus attracted unexpected attention and revealed a host of undisclosed problems in China.” In particular, J Capital allegedly It “uncovered a barrage of reasons why Chinese regulators might have blocked this IPO, including data falsification, tax evasion, improper storage of hazardous chemicals, suspicious related-party transactions, intellectual property litigation and non-payment of wages to employees.”

Following this news, AXT’s share price fell 1,73 € per share or 34.95%, and closed at $3.22 per share on 4. April2024.

Pomerantz LLP, with offices in new York, Chicago, Los Angeles, London, ParisAnd Tel-Avivis considered one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. PomerantzKnown as the dean of class action lawyers, Pomerantz was a pioneer in the field of securities class action litigation. Today, more than 85 years later, Pomerantz continues the tradition he established and fights for the rights of securities litigation victims. FraudBreach of fiduciary duty and corporate misconduct. The firm has won billions of dollars in damages on behalf of class action plaintiffs. See www.pomlaw.com.

Attorney advertising. Past results do not guarantee similar results.

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

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