SAN DIEGO & SCOTTSDALE, Ariz.--(BUSINESS WIRE)--
Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Axon Enterprise, Inc. (AAXN) breached their fiduciary duties to shareholders by engaging in improper accounting practices. Axon develops, manufactures, and sells conducted electrical weapons worldwide.
View this press release on the firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/axon-enterprise-inc
Axon May Have Engaged in Improper Accounting Practices
On October 19, 2017, Axon announced in a Form 8-K that the U.S. Securities and Exchange Commission ("SEC") is reviewing the company's financial statements. The SEC specifically seeks to review Axon's 2016 financial report and its quarterly report for the period ending March 31, 2017. In a September 20, 2017 letter from the SEC to Axon, the SEC states that Axon has not yet provided a substantive response to its earlier comment letters, noting that it "will take further steps as we deem appropriate." On this news, Axon's stock fell $1.61 per share, or over 6%, to close at $23.01 per share on October 20, 2017.
Axon Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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