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AXTI INVESTOR ALERT: Edelson Lechtzin LLP Urges AXT, Inc. (NASDAQ: AXTI) Shareholders to Seek Legal Counsel About the Pending Securities Fraud Class Action

NEWTOWN, PA, May 13, 2024 — Edelson Lechtzin LLP, a leading class action law firm, is investigating securities fraud claims on behalf of investors in AXT, Inc. (NASDAQ: AXTI) stock between March 24, 2021, and April 3, 2024, inclusive (the “Class Period”).

Investors who purchased AXT stock may move the U.S. District Court for the Eastern District of New York to appoint them as lead plaintiff, no later than July 5, 2024. Please contact Edelson Lechtzin LLP at 844-696-7492 to discuss your investment losses, or by e-mail at [email protected]. A copy of the class action complaint can be viewed HERE.

Background on AXT, Inc.

AXT, Inc. is a semiconductor substrate manufacturer based in Fremont, California. The company distributes globally to regions including North America, China, and Europe.

The Securities Fraud Claims

The Complaint alleges claims that throughout the Class Period, Defendants made materially false and misleading statements, including that: (i) AXT, Inc. overstated its property holdings; (ii) the Company did not disclose that the attempted listing of an AXT, Inc. subsidiary in China had reportedly failed; (iii) AXT, Inc. routinely engaged in environmental violations and unsafe business practices; and (iv) AXT, Inc.’s production declined in 2023.

On April 4, 2024, a report on AXT was published by J Capital Research before the market opened. Following this news, AXT’s stock dropped by $1.73 per share or 34.94%, closing at $3.22 per share on April 4, 2024. The next day, on April 5, 2024, AXT’s stock fell by $0.11 or 3.4%, closing at $3.11 per share.

For more information, please contact:

Marc H. Edelson, Esq.

Eric Lechtzin, Esq.

EDELSON LECHTZIN LLP

411 S. State Street, Suite N-300

Newtown, PA 18940

Phone: 844-696-7492 or 215-867-2399 ext. 1

Email: [email protected]

Email: [email protected]

Web:  www.edelson-law.com

Edelson Lechtzin LLP is a leading class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.

This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

 

 

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