NEW YORK, Jan. 06, 2016 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Aixtron SE (“Aixtron” or the “Company”) (Nasdaq:AIXG) in the United District Court for the Southern District of New York on behalf of a class consisting of all persons or entities who purchased securities between September 25, 2014 through December 9, 2015, inclusive (the “Class Period”). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
The Complaint alleges Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) the AIX R6 MOCVD systems that were to be shipped to Aixtron’s large Chinese customer (San’an Optoelectronics) did not meet the customer’s specific qualification requirements; (2) as such, Aixtron’s agreement with San’an Optoelectronics to ship 50 of Aixtron’s AIX R6 MOCVD systems to San’an Optoelectronics was unlikely to be executed; (3) the impending failure to execute the original agreement would have a substantial negative impact on Aixtron’s prospects; and (4) as a result of the foregoing, Defendants’ statements about Aixtron’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you wish to serve as lead plaintiff, you must move the Court no later than March 4, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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