LOS ANGELES, Aug. 16, 2017 (GLOBE NEWSWIRE) -- Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Axiom Holdings, Inc. (“Axiom Holdings” or the “Company”) (Other OTC:AIOM) for possible violations of federal securities laws from October 14, 2016 through June 19, 2017, inclusive (the “Class Period”). Investors who purchased or otherwise acquired Axiom Holdings shares during the Class Period should contact the firm by the August 21, 2017 lead plaintiff motion deadline.

To participate in this class action lawsuit, click here.

You may also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or e-mail him at brian@lundinlawpc.com.

No class has been certified in the above action yet, and until a class is certified, you are not considered to be represented by an attorney. You may also choose to do nothing and be an absent class member.

According to the Complaint, throughout the Class Period, Axiom Holdings made false and misleading statements and/or failed to disclose that: the Company lacked control over the merger process sufficient to ensure that the share exchange agreement with CJC Holdings, Ltd. (“CJC”) would be completed; that the agreement with CJC was never completed; that Axiom Holdings’ issuance of shares to the CJC Shareholders was thus improper; and that as a result of the above, the Company’s public statements were materially false and misleading at all relevant times.

On June 19, 2017, Axiom Holdings announced that it identified discrepancies relating to prior news announcements in response to a subpoena from the SEC. The following day, the Company 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 CJC Shareholders in relation to the merger. When this news reached the public, shares of Axiom Holdings lowered in value materially, which caused investors harm according to the Complaint.

Lundin Law PC was founded by Brian Lundin, a securities litigator located in Los Angeles dedicated to upholding shareholders’ rights.

This press release may constitute Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

Contact:

Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
brian@lundinlawpc.com
http://lundinlawpc.com/