AXT INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of AXT, Inc. – AXTI

Former Louisiana Attorney General Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has opened an investigation into AXT, Inc. (NasdaqGS: AXTI).

On April 4, 2024, J Capital Research published a report on the company, revealing that it had attempted an Initial Public Offering (“IPO”) for one of its subsidiaries in China and that the “IPO has apparently been blocked by Chinese regulators.” J Capital also disclosed that it had “uncovered a plethora of reasons why Chinese regulators may have blocked this IPO, including data falsification, tax evasion, improper storage of hazardous chemicals, suspicious related party transactions, IP litigation, and non-payment of wages to employees.”