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IMPORTANT AXIOM HOLDINGS, INC. INVESTOR REMINDER: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against Axiom Holdings, I

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NEW YORK, Aug. 08, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP reminds investors of the filing of a class action lawsuit in the United States District Court for the Southern District of New York on behalf of purchasers of the securities of Axiom Holdings, Inc. (OTCQB:AIOM) from October 14, 2016 through June 19, 2017, inclusive (the "Class Period").

Investors who have incurred losses in Axiom Holdings, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If you have purchased shares of Axiom Holdings, Inc. and would like to assist with the litigation process as a lead plaintiff, you may, no later than August 21, 2017, request that the Court appoint you lead plaintiff of the proposed class.

The complaint alleges that defendants during the Class Period made false and misleading statements and/or failed to disclose that:

  • Axiom lacked control over the merger process sufficient to ensure that the Agreement with CJC would be completed;
     
  • accordingly, the Agreement with CJC was never completed;
     
  • Axiom's issuance of shares to the CJC Shareholders was thus improper; and
     
  • as a result, Axiom's public statements were materially false and misleading at all relevant times.

On June 19, 2017, Axiom issued a press release disclosing that it had identified discrepancies related to prior news announcements in response to a subpoena from the Securities and Exchange Commission. (SEC). On the subsequent day, Axiom issued another press release, advising investors that "it now appears the merger was never completed" and advising investors that it would rescind the shares that were issued to the CJC Shareholders in connection with the merger.

On this news, shares of Axiom fell $0.44 per share or over 37% over two trading days to close at $0.72 per share on June 20, 2017, damaging investors.

As of the date of this press release, shares have been halted for trading, with the last reported trade on June 20th.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP 
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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