AXT, Inc. (NASDAQ: AXTI)

This lawsuit is for anyone who acquired securities in AXT, Inc. (NASDAQ: AXTI) from March 24, 2021 through April 3, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company followed applicable laws but then by violating a multitude of Chinese laws through its primary subsidiary.

On April 4, 2024, J Capital Research published a report alleging, among other things, that, while AXT announced that it would be listing its primary subsidiary in Shanghai, the Company’s IPO was blocked by Chinese regulators in March 2023, potentially due to “falsifying data, tax evasion, improper storage of hazardous chemicals, suspicious related-party transactions, IP litigation, and defaulting on wages to employees.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in AXT, Inc. (NASDAQ: AXTI) from March 24, 2021 through April 3, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.